Silver prices are rising, approaching the $76/ounce mark.

After a series of seven consecutive declining sessions, the global commodity market recovered in yesterday's trading session (May 28) as buying pressure returned to many commodity groups, especially metals and agricultural products.

At closing, the MXV-Index reversed course and rose nearly 1%, reaching 2,848 points.

According to the Vietnam Commodity Exchange (MXV), the metal group saw a widespread positive performance yesterday, with COMEX silver continuing to be the focal point driving the market's upward trend.

At the close of trading, the price of the July silver futures contract rose 1.4% from the previous session, approaching the $76/ounce mark.

The main impetus came from the news that the US and Iran had reached a memorandum of understanding regarding the extension of the ceasefire for another 60 days. This development helped ease market concerns about the risk of prolonged energy supply disruptions in the Middle East, a factor that had heavily influenced trading sentiment in recent weeks.

Expectations of easing regional tensions have also somewhat eased pressure from energy prices. This supports sentiment in financial markets and helps bring capital back into precious metals.

Against this backdrop, the yield on 10-year US Treasury bonds fell to 4.46%, while the Dollar Index declined 0.2% to 99.02 points. The weakening US dollar made commodities priced in the greenback more attractive to international investors, thereby supporting buying interest in the silver market.

Besides financial factors, the outlook for silver consumption in the industrial sector is also considered more positive as energy cost risks show signs of easing. This is a significant supporting factor for silver, a commodity with a large proportion of industrial consumption in addition to its role as a safe-haven asset.

However, MXV believes the silver market still faces significant challenges in the short term. Inflationary pressure in the US remains high, with the Personal Consumption Expenditures (PCE) price index in April rising 3.8% year-on-year, the highest level in three years. Simultaneously, US GDP growth for the first quarter of 2026 has been revised downward to 1.6%, reflecting the inherent difficulties facing the world's largest economy .

In the medium term, experts from Bank of America maintain a positive outlook, forecasting that silver prices could reach $100 per ounce in the fourth quarter of this year. However, the bank also notes that excessively high prices could force some major consuming industries to cut demand or seek alternative materials to optimize production costs.

In the domestic market, silver prices continue to fluctuate in line with international trends. At the end of May 28th, the price of 999 gold investment bars was listed at around 2.8 - 2.9 million VND/ounce. By this morning, the price level had adjusted upwards again to 2.9 - 3 million VND/ounce.

Price trends of soybean commodities. Source: MXV

In the agricultural commodities group, the market saw positive developments with 6 out of 7 commodities closing in the green. In particular, soybeans continued to attract strong buying interest thanks to support from the vegetable oil market and demand for biofuels in the US.

At the close of trading, July soybean futures on the CBOT rose 0.8% to $438.91 per ton. Meanwhile, soybean oil prices increased 1.9%, closing at $1,691 per ton.

According to MXV, soybean oil continues to lead the upward trend of the entire soybean group amid strong demand for biofuels in the US.

Source: https://hanoimoi.vn/gia-bac-tang-tien-sat-moc-76-usd-ounce-976073.html