Silver price today May 9: Decreased across the board

Silver price today at Phu Quy Gold and Gemstone Group, Phu Quy silver price decreased slightly, listed at 1,244,000 VND/tael (buy) and 1,282,000 VND/tael (sell) in Hanoi . In addition, according to a survey at other transaction locations in Hanoi, domestic silver prices decreased in both buying and selling directions, currently listed at 1,032,000 VND/tael (buy) and 1,062,000 VND/tael (sell).

In Ho Chi Minh City, silver prices also decreased, currently at 1,034,000 VND/tael (buy) and 1,067,000 VND/tael (sell).

In the world market, the spot silver price is trading at 32.405 USD/ounce, down 0.29 USD/ounce compared to yesterday's trading session. The adjustment took place in the context of weakening investor sentiment.

In addition, optimism about the economic outlook has reduced demand for safe-haven assets such as silver. At the same time, the rising value of the US dollar has also put additional pressure on the price of precious metals. Silver is priced in greenbacks, making it more expensive for international investors, thereby reducing buying power in the market.

Moreover, the wait-and-see mentality continues to dominate the market as investors turn their attention to the US Federal Reserve’s policy meeting. Although the Fed is expected to keep interest rates unchanged, Chairman Jerome Powell’s speech will be the focus for policy guidance amid pressure from the White House and trade uncertainty.

Source: https://baodaknong.vn/gia-bac-hom-nay-9-5-dong-loat-giam-251967.html