Silver prices turn down slightly

Today's silver price is listed at 907,000 VND/tael for buying and 952,000 VND/tael for selling in Hanoi. The silver price in Ho Chi Minh City is listed higher at 909,000 VND/tael for buying and 954,000 VND/tael for selling. The world silver price is at 755,000 VND/ounce for buying and 760,000 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 19, 2024:

Silver type	Unit	Hanoi		Ho Chi Minh City
		Buy	Sell	Buy	Sell
Silver 99.9	1 amount	907,000	952,000	909,000	954,000
	1 kg	24,194,000	25,392,000	24,232,000	25,438,000
Silver 99.99	1 amount	913,000	953,000	914,000	958,000
	1 kg	24,342,000	25,404,000	24,362,000	25,541,000

Latest update on world silver prices on September 19, 2024

Unit	World silver price today (VND)
	Buy	Sell
1 Ounce	755,000	760,000
1 only	91,026	91,620
1 amount	910,000	916,000
1 kg	24,273,000	24,432,000

As the market is cautious about the US Federal Reserve's interest rate cut plan, for precious metals, silver prices fell slightly by 0.5% to 30.97 USD/ounce, ending a three-session winning streak. Platinum prices also continued to decline, down 0.55% to 982.8 USD/ounce.

Market focus is on US retail sales and industrial production data released last night, as these are the last economic data released before the Fed decides to cut interest rates early tomorrow morning.

According to the report from the US Department of Commerce, in August, the country's retail sales unexpectedly increased by 0.1% on a monthly basis, surpassing the market's expectation of a 0.2% decrease. Industrial production growth also beat market expectations, reaching a 0.8% increase in August, higher than the forecast of a 0.2% increase. These positive economic figures, combined with the previously released data on the falling unemployment rate, have reduced the possibility of a large-scale interest rate cut by the Fed. The easing of optimism in the market has caused investors to withdraw money from the precious metals market.

In addition, the USD also increased sharply after a series of data yesterday, indirectly putting pressure on silver and platinum prices. Specifically, the Dollar Index closed up 0.13% to 100.89 points, ending a three-session decline.

Source: https://congthuong.vn/gia-bac-hom-nay-1992024-gia-bac-quay-dau-suy-giam-nhe-346808.html