Vietnamese Silver Prices Soar as Global Market Sees Gains
The silver price fluctuation on August 17 saw a sharp increase in Vietnam and internationally. As of 12:50 PM, the domestic price of 2024 Ancarat 999 silver bars at Ancarat Gem Company reached VND 2.315 - 2.374 million per tael for buying and selling, up by VND 32,000 from the previous day.
The price of 2025 Ancarat 999 silver ingots also rose to VND 60.926 - 62.806 million per kilogram at Ancarat Gem Company, an increase of VND 832,000 compared to the previous morning. DOJI Jewelry Group Joint Stock Company and Phu Quy Jewelry Group reported similar price increases.
The world silver price on August 17 was listed at USD 65.74 per ounce, up by 1.20 dollars from the previous morning. Analyst Muhammad Umair attributes this increase to a weakening US dollar, falling US Treasury bond yields, and expectations of a Federal Reserve rate cut.