Silver prices cool down

Today's silver price is listed at 927,000 VND/tael for buying and 964,000 VND/tael for selling in Hanoi. The silver price in Ho Chi Minh City is listed higher at 928,000 VND/tael for buying and 969,000 VND/tael for selling. The world silver price is at 767,000 VND/ounce for buying and 771,000 VND/ounce for selling.

Specifically, the latest information on silver prices today in the two largest markets of Hanoi and Ho Chi Minh City on September 22, 2024:

Silver type	Unit	Hanoi		Ho Chi Minh City
		Buy	Sell	Buy	Sell
Silver 99.9	1 amount	927,000	964,000	928,000	969,000
	1 kg	24,707,000	25,705,000	24,745,000	25,851,000
Silver 99.99	1 amount	932,000	964,000	933,000	973,000
	1 kg	24,855,000	25,717,000	24,875,000	25,954,000

Latest update on world silver prices on September 22, 2024

Unit	World silver price today (VND)
	Buy	Sell
1 Ounce	767,000	771,000
1 only	92,472	92,917
1 amount	925,000	929,000
1 kg	24,659,000	24,778,000

At the end of the weekend trading session, the precious metals market turned slightly down.

The decline in silver and platinum prices today shows that the market is responding sensitively to changes in the economic outlook and monetary policy. Investors need to closely monitor market developments in the coming days to make effective investment decisions.

The dollar index rose 0.13%, snapping a three-session losing streak. A stronger dollar typically puts pressure on precious metals, including silver and platinum, as they are priced in the U.S. currency.

Investors are becoming more cautious about the latest market developments. They are waiting for more information and signals from policymakers before making further investment decisions.

In addition, US retail sales and industrial production both exceeded market forecasts, showing that the economy is still vibrant. This reduced inflationary pressure and prompted the FED to decide to cut interest rates.

"The committee is increasingly confident that inflation will moderate sustainably toward 2 percent. The probability of the labor market and inflation achieving the Fed's objectives is roughly equal," the Fed said.

The Fed raised interest rates 11 times from March 2022 to July 2023 to curb inflation. In August, the US consumer price index (CPI) increased by 2.5%, down significantly from its peak of 9% over the same period in 2022. The personal expenditures index (PCE) - the Fed's preferred inflation measure - has also shown signs of cooling over the past two years.

Source: https://congthuong.vn/gia-bac-hom-nay-2292024-gia-bac-quay-dau-giam-nhiet-347435.html