Commodities
Vietnamese Silver Prices Rebound as Weakening USD Supports Precious Metal
Silver prices in Vietnam have been fluctuating throughout the week, but managed to recover from pressure caused by US inflation data. The weakening USD has supported the precious metal's upward momentum.
The domestic silver price at Phu Quy Jewelry Group closed the trading session on September 13th at 2.203-2.271 million VND/tael for 999 silver bars (1 tael). The price of 999 silver ingots (1kg) is listed at 58.746-60.559 million VND/kg, with a buying-selling difference of 1.813 million VND/kg.
The world silver price as of September 13th was listed at 64.36 USD/ounce. The price had fallen to 62.94 USD/ounce after the US released its August inflation report, but recovered due to the weakening USD and lower-than-expected monthly core CPI.