Vietnamese Silver Prices Surge Amid Global Increase
The price of silver fluctuated on August 26 in Vietnam, with DOJI Jewelry Group Joint Stock Company listing its 999 silver at 2.376-2.451 million VND/tael (buying-selling), a rise of 37,000 VND/tael on the buying side and 8,000 VND/tael on the selling side compared to the previous day.
Phu Quy Jewelry Group also saw an increase in its 999 silver bars at 2.335-2.407 million VND/tael (buying-selling), with a rise of 39,000 VND/tael on the buying side and 40,000 VND/tael on the selling side.
The world silver price was listed at 69.43 USD/ounce as of August 26, an increase of 1.78 USD/ounce from the previous day's closing price.
According to market analyst Ghiles Guezout, safe-haven demand and industrial consumption prospects are supporting the world silver prices, while investors await signals on US monetary policy. The analyst noted that cooling inflation may strengthen expectations for stable monetary policy and support silver prices.