The market fluctuated, with the MXV-Index losing more than 3%.

Overwhelming selling pressure across many commodity groups dragged the MXV-Index down sharply by 3.27%, to 2,560 points.

From a peak of $115 per ounce, the price of silver has fallen by more than 22% in just one week. *Source: MXV*

During the last trading week of the month (January 26-30), silver prices experienced the sharpest correction. From the peak of $115.5 USD/ounce set at the beginning of the week, silver prices ended the week down approximately 22.5%. In the final trading session alone, the daily drop at one point exceeded 30%, indicating intense selling pressure.

According to MXV, the decline stems not only from profit-taking after a period of rapid growth but is also influenced by macroeconomic and technical factors.

Information regarding personnel changes at the US Federal Reserve (FED) could alter the interest rate adjustment trajectory, weakening the prospect of monetary policy easing in 2026, a factor that previously supported the upward trend of precious metals.

In addition, the Dollar Index recovered 0.8% this week, putting further pressure on silver as it is priced in USD. Furthermore, CME Group's repeated increases in margin requirements for COMEX silver contracts have forced many highly leveraged investors to sell to meet the margin requirements.

Domestically, due to the heavy reliance on imports for silver supply, silver prices fluctuate in line with global trends. As of February 1st, the price of 999 pure silver decreased by approximately 17% in both buying and selling prices compared to the end of last week, ranging from 2.747 to 2.783 million VND per tael. Meanwhile, the price of silver bars for investment and storage purposes at major brands decreased by about 18%, falling to the range of 3.175 to 3.273 million VND per tael.

Winter storm Fern disrupted supply, causing natural gas prices to skyrocket. *Source: MXV*

In contrast to the correction in silver, all five energy commodities closed the week in positive territory. Most notably, natural gas saw its near-term contract on the NYMEX rise by over 20%, to around $4.35/MMBtu.

According to MXV, the main reason was the winter storm Fern that swept through several US states, disrupting about 12–15% of production while heating demand surged.

Besides weather factors, short covering and higher-than-expected EIA inventory withdrawals also contributed to the sharp price increase in the short term.

Source: https://hanoimoi.vn/thi-truong-giang-co-mxv-index-mat-hon-3-732146.html