Silver price today (December 8), domestic and world silver both decreased after the previous increase.
Silver price today at Phu Quy Jewelry Group, silver price adjusted down slightly at 1,137,000 VND/tael (buy) and 1,172,000 VND/tael (sell) in Hanoi. In addition, according to a survey at other trading locations in Hanoi, silver price tends to decrease, currently listed at 951,000 VND/tael (buy) and 984,000 VND/tael (sell). In Ho Chi Minh City, silver price also recorded a decrease at 952,000 VND/tael (buy) and 986,000 VND/tael (sell). World silver price decreased at 787,000 VND/ounce (buy) and 792,000 VND/ounce (sell).
Specifically, the latest information on silver prices today in the two largest markets of Hanoi and Ho Chi Minh City on December 8, 2024:
Silver type | Unit | Hanoi | Ho Chi Minh City | ||
Buy | Sell out | Buy | Sell out | ||
99.9 silver | 1 amount | 951,000 | 984,000 | 952,000 | 986,000 |
| 1 kg | 25,348,000 | 26,246,000 | 25,400,000 | 26,297,000 | |
| Silver 99.99 | 1 amount | 958,000 | 992,000 | 960,000 | 994,000 |
| 1 kg | 25,554,000 | 26,458,000 | 25,596,000 | 26,509,000 | |
Update the latest silver price list at Phu Quy Gold and Gemstone Group on December 8, 2024:
Silver type | Unit/VND | Hanoi | |
Buy | Sell out | ||
Silver bars, Phu Quy 999 silver bars | 1 amount | 1,137,000 | 1,172,000 |
| Phu Quy 999 Silver Bar | 1 kg | 30,319,924 | 31,253,255 |
Latest update on world silver price on December 8, 2024:
| Unit | World silver price today (VND) | |
Buy | Sell out | |
| 1 Ounce | 787,000 | 792,000 |
| 1 finger | 94,830 | 95,442 |
| 1 amount | 948,000 | 954,000 |
| 1 kg | 25,288,000 | 25,451,000 |
The silver market is on a downward trend, the main reason behind this decline is the strong increase in the price of the USD, shown by the Dollar Index (DXY) increasing by 0.26% to 105.97 points.
When the US dollar strengthens, US dollar-denominated assets, such as silver, typically become less attractive to international investors, as they may need to pay more to purchase these assets when the US dollar is worth more.
However, the decline in silver prices could also create opportunities for investors, as as prices fall, silver could become a more attractive option in long-term investment strategies, especially in the context of continued US dollar volatility.
World silver prices continue to fluctuate unpredictably due to trade tensions and fluctuations in the USD, while domestic silver prices also tend to slightly decrease. With the volatile global economic context, silver and gold are still safe haven assets that are preferred by investors.
Source: https://congthuong.vn/gia-bac-hom-nay-8122024-bac-do-ng-loat-gia-m-363093.html
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