Silver Prices Surge in Vietnam Amid Global Market Trends

The price of silver rose sharply on September 23rd in Vietnam, with various companies reporting increases in their selling prices. According to Ancarat Gem Company, the price of 2024 Ancarat 999 silver bars (1 tael) reached a threshold of 2.215 - 2.281 million VND/tael, up 4,000 VND/tael from the previous day. The company also reported an increase in the price of 999 silver ingots (1kg) to 58.516 - 60.326 million VND/kg.

The prices at DOJI Jewelry Group Joint Stock Company and Phu Quy Jewelry Group also rose, with DOJI listing its 999 silver bars (1 tael) at 2.307 - 2.382 million VND/tael, up 8,000 VND/tael from the previous day, while Phu Quy listed its 999 silver bars (1 tael) at 2.251 - 2.321 million VND/tael, with a 10,000 VND/tael increase on the buying side and an 11,000 VND/tael increase on the selling side.

The world market also saw a rise in silver prices, with the price of 999 silver (1 ounce) reaching $66.44 USD, up 0.44 USD from the previous day. Market analysts attribute this rise to a slight decline in the US dollar and expectations of interest rate reductions in the US.

While the increasing trend may continue in the coming days, investors are advised to carefully consider risk factors before making any decisions. The market will be closely monitoring US economic data, USD developments, and interest rate expectations to assess the trend of precious metals.