Silver prices surged on December 16th, setting a new record in the global market.

Domestic silver prices rose to 71,000 VND/ounce, while world prices surged to $64.097/ounce due to expectations that the Fed will continue to ease monetary policy.

Domestic and international silver prices surged in the morning trading session of December 16th, recovering all losses from the previous session. On the international market, spot silver prices reached a record high, driven by expectations that the US Federal Reserve (FED) will continue to ease monetary policy.

Domestic silver price trends

As of 5:30 AM on December 16th, major domestic silver trading brands had adjusted their listed prices upwards. The increase ranged from 59,000 to 71,000 VND per tael compared to the morning session of December 15th.

Unit/Region	Buying price (VND/ounce)	Selling price (VND/ounce)	Increase (compared to December 15)
Phu Quy ( Hanoi )	2,398,000	2,472,000	+69,000 (buy) / +71,000 (sell)
Ho Chi Minh City	2,073,000	2,106,000	+60,000 (buy) / +59,000 (sell)
Hanoi (other)	2,071,000	2,101,000	+60,000 (buy and sell)

Silver prices today, December 16th, simultaneously surged to record highs.

Global markets reach new highs.

On the international market, according to data from giabac.net at 5:48 AM on December 16th, the spot price of silver was trading at $64.097 per ounce, an increase of $2.182 per ounce compared to the previous session. During the weekend trading session, the price of silver briefly reached a new record high of $64.67 per ounce.

The world silver price, converted to Vietnamese dong, is listed at 1,687,000 VND/ounce for buying and 1,692,000 VND/ounce for selling, an increase of 58,000 VND and 57,000 VND respectively compared to the morning of December 15th.

Analysis and forecasting

According to James Hyerczyk, a precious metals analyst at FX Empire, the main driver of silver's price increase comes from the Fed's 0.25 percentage point interest rate cut. The market is expecting monetary policy to continue to be eased, thereby supporting non-yielding assets such as precious metals.

However, Hyerczyk also noted that the upward momentum did not last until the end of the session due to strong profit-taking pressure at high price levels. "This development shows that buying pressure weakened after a week of rapid gains, reflecting short-term profit-taking rather than a long-term trend shift," he analyzed.

The expert believes that the $60.52/ounce mark acts as a crucial support level in the short term. If the price of silver remains above this level, the uptrend will be strengthened. Conversely, a drop below this support level could put further downward pressure on the metal.

Source: https://baolamdong.vn/gia-bac-ngay-1612-tang-manh-thi-truong-the-gioi-lap-ky-luc-410810.html