Silver prices break historic records

The world commodity market is strongly differentiated between groups, in which silver price exceeds 60 USD/ounce - breaking historical record, crude oil is under pressure of oversupply.

The selling pressure was stronger, pulling the MXV-Index down 0.3% to 2,362 points.

Silver prices rise, hitting new peak. Source: MXV

Closing yesterday's trading session, silver price became the center of attention when it increased nearly 4.2% to 60.84 USD/ounce, the highest level in history and increased the increase since the beginning of the year 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 be in deficit for the fifth consecutive year due to strong demand in the green energy sector, especially solar cell production.

Meanwhile, investment in physical silver continued to expand, pushing the amount of silver in COMEX warehouses to nearly 14,200 tons, up 43% compared to the beginning of the year. The strong shift of physical silver to the US has caused the risk of local shortages in supply in other regions, further pushing prices up.

In Vietnam, the price of 999 silver on the morning of December 10 increased by 1.3%, to 1.907 - 1.937 million VND/tael in Hanoi and 1.909 - 1.943 million VND/tael in Ho Chi Minh City for both buying and selling.

All 5 items in the energy group decreased in price. Source: MXV

On the other hand, the energy market was in the red. WTI oil fell more than 1% to 58.2 USD/barrel, Brent oil fell 0.6% to 62.1 USD/barrel.

MXV said the biggest pressure comes from warnings of oversupply, while demand growth slows due to the energy transition.

OPEC+'s failure to cut production for the first quarter of 2026 further raises concerns that large supplies will continue to flow into the market.

Source: https://hanoimoi.vn/gia-bac-pha-vo-ky-luc-lich-su-726253.html