Silver Prices Plummet Amid Inflation Concerns

The price of silver experienced fluctuations in recent sessions, particularly on September 9. As of 9:40 am, the price of silver bars at Ancarat Gem Company was listed between 2,210-2,276 million VND per tael (buying-selling), down 16,000 VND/tael compared to the previous day. The price of silver ingots at Ancarat Gem Company also decreased by 416,000-426,000 VND/kg.

The world silver price followed a similar trend, with a slight decrease to $66.02 per ounce on September 9 (Vietnam time), down 0.66 USD from the previous day's price. The decline in silver prices is attributed to rising oil prices and concerns about inflation. Central banks may maintain high interest rates for an extended period, which can negatively impact silver prices.

The market expects the US Federal Reserve to continue its tight monetary policy, with a 60% probability of raising interest rates by another 0.25 percentage points at the upcoming meeting on September 15-16. The release of important US economic data, including the producer price index (PPI) and consumer price index (CPI), will influence inflation developments and impact the Fed's policy expectations.