Silver extends gains to fourth consecutive week

Today's silver price is listed at 1,106,000 VND/tael for buying and 1,140,000 VND/tael for selling in Hanoi. The world silver price is at 794,000 VND/ounce for buying and 797,000 VND/ounce for selling.

Update the latest silver price list of Phu Quy Gold Investment Joint Stock Company on October 8, 2024

Silver type	Unit	Hanoi
		Buy	Sell ​​out
SILVER BARS, SILVER BULLETS 999	1 amount	1,106,000	1,140,000
999 SILVER BARRELS	1 kg	29,493,260	30,399,924

Latest update on world silver prices on October 8, 2024

Unit	World silver price today (VND)
	Buy	Sell ​​out
1 Ounce	794,000	797,000
1 finger	95,672	96,121
1 amount	957,000	961,000
1 kg	25,512,000	25,632,000

Closing the first trading week of October, buying power continued to dominate the metal market with 7/10 items increasing in price. For precious metals, silver prices extended their upward trend to the 4th consecutive week when they increased by 1.82% to 32.39 USD/ounce, maintaining at the highest price range in the past 12 years.

Specifically, thanks to its role as a safe haven, the price of precious metals has benefited from concerns about escalating tensions in the Middle East after Iran suddenly attacked Israel in the early morning of October 2. Israeli President Benjamin Netanyahu later also announced that he would retaliate against Iran's actions, including the possibility of attacking the country's oil infrastructure.

However, the silver price increase was hindered by a series of positive economic data released by the US last week, along with some tough statements from US Federal Reserve (FED) officials, which reduced expectations that the FED would continue to cut interest rates by 50 basis points at the November meeting. As for platinum, the price of this commodity has gradually lost its upward momentum in the past two weeks as this commodity is inherently less sensitive to macro factors than silver.

Source: https://congthuong.vn/gia-bac-hom-nay-8102024-bac-noi-dai-da-tang-sang-tuan-thu-4-lien-tiep-350880.html