Silver price on July 9, world silver price increased slightly despite pressure from the weakening USD and the policy of the US Federal Reserve (FED). Domestically, prices increased and decreased in opposite directions at brands in Hanoi and Ho Chi Minh City.
On the morning of July 9, the price of Phu Quy silver at Phu Quy Jewelry Group (Hanoi) was listed at VND 1,400,000/tael (buy) and VND 1,443,000/tael (sell), an increase of VND 2,000/tael for both buying and up to VND 16,000/tael for selling compared to yesterday morning's trading session.
Also in Hanoi, according to a survey at other trading locations, the listed silver price was at VND149,000/tael (buy) and VND1,182,000/tael (sell), down VND33,500/tael for buying and VND6,000/tael for selling compared to yesterday morning's trading session.
Silver prices in Ho Chi Minh City remain unchanged from yesterday morning's trading session, at VND1,151,000/tael (buy) and VND1,188,000/tael (sell).
On the world market, silver price is listed at 36.81 USD/ounce; up 0.09 USD compared to yesterday morning.
Silver is currently trading around key support levels amid pressure on the broader precious metals market from a stronger US dollar and concerns about the US Federal Reserve's (FED) policy.
"The pullback from a near 13-year high suggests profit-taking pressure similar to the decline in gold, as investors reassess precious metals positions ahead of President Donald Trump's tariff deadline and clarity on Fed policy," said market analyst James Hyerczyk.
Technically, traders are waiting for silver prices to fall before jumping back into the market, according to James Hyerczyk.
“While the medium-term uptrend remains intact, the failure to break above the 13-year high suggests that buying pressure has weakened at current price levels,” he said.
Source: https://baolamdong.vn/gia-bac-hom-nay-9-7-bac-the-gioi-tang-gia-nhe-381658.html
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