Selling pressure prevailed, pulling the MXV-Index down 0.3% to 2,362 points.
Silver prices surge, reaching a new peak. Source: MXV
At the close of yesterday's trading session, silver became the center of attention, rising nearly 4.2% to $60.84 per ounce, its highest level in history and extending its year-to-date gains to 103%.
According to the Vietnam Commodity Exchange (MXV), expectations that the US Federal Reserve (Fed) may cut interest rates for the third time on December 11-12 have made non-yielding assets like silver more attractive. US economic indicators show cooling inflation and a slowing labor market, creating room for the Fed to cut rates by another 25 basis points, bringing them to the 3.5–3.75% range.
In addition, the silver supply-demand balance continued to show a deficit for the fifth consecutive year due to strong demand in the green energy sector, especially solar panel production.
Meanwhile, investment in physical silver continues to expand, pushing COMEX silver inventories to nearly 14,200 tons, a 43% increase since the beginning of the year. The strong shift of physical silver to the US is creating a risk of localized supply shortages in other regions, further driving prices higher.
In Vietnam, the price of 999 silver increased by 1.3% on the morning of December 10th, reaching 1.907 – 1.937 million VND/ounce in Hanoi and 1.909 – 1.943 million VND/ounce in Ho Chi Minh City for buying and selling respectively.
All five commodities in the energy group saw price reductions. Source: MXV
Conversely, the energy market was in the red. WTI crude fell more than 1% to $58.2 per barrel, and Brent crude dropped 0.6% to $62.1 per barrel.
MXV believes the biggest pressure comes from warnings of oversupply, while demand growth is slowing due to the energy transition.
The fact that OPEC+ did not cut production for the first quarter of 2026 further fuels concerns that a large supply will continue to flow into the market.
Source: https://hanoimoi.vn/gia-bac-pha-vo-ky-luc-lich-su-726253.html
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