Silver price today June 8: Turning down

Silver price today June 8, domestic and world silver prices turned down after the previous spike.

Domestic silver price

Silver price today at Phu Quy Gold and Gemstone Group, Phu Quy silver price decreased slightly, listed at 1,343,000 VND/tael (buy) and 1,385,000 VND/tael (sell) in Hanoi .

In addition, according to a survey at other trading locations in Hanoi, domestic silver prices have decreased in both buying and selling directions, currently listed at VND 1,135,000/tael (buy) and VND 1,165,000/tael (sell).

In Ho Chi Minh City, silver prices also decreased, currently at 1,137,000 VND/tael (buy) and 1,171,000 VND/tael (sell).

World silver price

In the world market, the world silver price has decreased in both buying and selling directions, currently at 937,000 VND/ounce (buy) and 942,000 VND/ounce (sell).

In the long term, experts predict that silver could reach $40 or even $50 an ounce, thanks to growing demand from industry.

Expectations that the Federal Reserve will cut interest rates in September have increased following a series of weak US economic indicators, such as a rise in jobless claims to a nine-month high and a decline in productivity in the first quarter. These data have boosted demand for safe-haven assets, increasing the appeal of silver, a precious metal that is also an important industrial raw material.

In the long term, experts predict that silver could reach $40 or even $50 an ounce, thanks to growing demand from industry. "With high demand for silver, the price of this metal could continue to rise strongly in the future," said Fawad Razaqzada, an analyst at City Index and FOREX.com.

Although silver is currently facing some supply challenges, with a strong foundation of industrial demand and a persistent supply shortage, silver prices are likely to continue to rise in the long term, reaching higher highs in the future.

Source: https://baodaknong.vn/gia-bac-hom-nay-8-6-quay-dau-giam-254930.html