Silver price today December 8, 2024: Silver fell across the board

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 transaction 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/ounce (buy) and 792,000/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	Buy	Sell
Silver 99.9	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
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 prices on December 8, 2024:

Unit	World silver price today (VND)
	Buy	Sell
1 Ounce	787,000	792,000
1 only	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 decrease slightly. In the context of a volatile global economy, silver and gold are still safe haven assets that investors prioritize.

Source: https://congthuong.vn/gia-bac-hom-nay-8122024-bac-do-ng-loat-gia-m-363093.html