Domestic Silver Price Rebounds as World Market Declines Amid US Inflation Concerns
The domestic silver price saw a rebound on August 31st, while the world market declined. At Ancarat Gem Company, the 2024 Ancarat 999 silver bars (1 tael) were listed at 2,210 - 2,276 million VND/tael, with an increase of 15,000 VND/tael in both directions compared to the previous day.
The price of 999 silver ingots (1kg) at Ancarat Gem Company was listed at 58.384 - 60.194 million VND/kg, with an increase of 380,000 VND/kg on the buying side and an increase of 400,000 VND/kg on the selling side compared to the previous day.
The DOJI Jewelry Group Joint Stock Company listed their 999 silver (1 tael) at 2.274 - 2.374 million VND/tael, with an increase of 48,000 VND/tael on the buying side and an increase of 60,000 VND/tael on the selling side compared to the previous day.
The Phu Quy Jewelry Group listed their 999 silver bars (1 tael) at 2.243 - 2.312 million VND/tael, with an increase of 37,000 VND/tael on the buying side and an increase of 38,000 VND/tael on the selling side compared to the previous day.
On the world market, the silver price was listed at 66.23 USD/ounce as of August 31st, down 0.05 USD/ounce from the previous day. The decline in the world market is attributed to statements made by US Federal Reserve Chairman Kevin Warsh on the inflation issue.