On the evening of May 11th, the price of silver surged dramatically, surpassing gold by a wide margin.

(NLĐO) – Gold prices rose rapidly, surpassing the $4,700/ounce mark, but silver was the metal causing a sensation, increasing by nearly 6% tonight.

On the evening of May 11th (Vietnam time), silver was trading at $85.1 per ounce, up 5.77% from the previous session. Not only did it surpass the $80 per ounce mark, but silver is also rising faster than gold – which was trading at $4,732 per ounce, up 0.39%.

The price of silver has risen rapidly and is currently at its highest level in nearly two months. This development in silver prices has surprised many investors, and some find it hard to believe.

Mr. Hoang Khanh (an investor in Ho Chi Minh City) said that tonight, when he checked the world silver price, he was surprised by the sharp increase. Because the fluctuations in world silver prices usually affect domestic prices, he expected the price of silver bars from domestic brands to far exceed 3.1 million VND/ounce.

Not only gold and silver, but the prices of many other commodities, such as crude oil, are also recovering. Brent crude oil is trading at $103.6 per barrel tonight, up 2.35% from the previous session.

Silver prices surge on international markets.

Conversely, the US dollar index (DXY Index) fell back to below 97.8 points, its lowest level since mid-February.

According to analysts, if silver surpasses the $83.6/ounce mark, it could enter another price surge, with a new target of $91/ounce. However, the metal is still far from its historical peak of $121/ounce reached at the end of January.

In the domestic market, as of the end of today, the price of silver bars from brands such as Ancarat, SACOMBANK -SBJ, and Phu Quy is trading around 3 million VND/ounce for buying and 3.1 million VND/ounce for selling, a further increase of about 20,000 VND compared to the end of last week.

Meanwhile, the price of silver per kilogram from various brands also remained high at 80.7 million VND for buying and 83.2 million VND for selling. Domestic silver prices are currently at their highest level since mid-March.

Silver prices rose by approximately 6% in a single session today, at one point even soaring vertically.

Source: https://nld.com.vn/toi-11-5-gia-bac-tang-soc-bo-xa-vang-196260511220052456.htm