Silver price today (November 9), the silver market turned to increase again after the decision to lower interest rates by the US Federal Reserve (FED).
Silver price today at Phu Quy Gold Investment Joint Stock Company, the listed silver price has decreased sharply at 1,183,000 VND/tael (buy) and 1,220,000 VND/tael (sell) in Hanoi. In addition, according to a survey at other trading locations in Hanoi, the silver price is currently listed at 992,000 VND/tael (buy) and 1,018,000 VND/tael (sell). In Ho Chi Minh City, the listed silver price is higher, at 994,000 VND/tael (buy) and 1,020,000 VND/tael (sell). The world silver price is at 797,000 VND/ounce (buy) and 802,000 VND/ounce (sell).
Specifically, the latest information on silver prices today in the two largest markets of Hanoi and Ho Chi Minh City on November 9, 2024:
Silver type | Unit | Hanoi | Ho Chi Minh City | ||
Buy | Sell out | Buy | Sell out | ||
99.9 silver | 1 amount | 992,000 | 1,018,000 | 994,000 | 1,020,000 |
| 1 kg | 26,450,000 | 27,148,000 | 26,502,000 | 27,199,000 | |
| Silver 99.99 | 1 amount | 995,000 | 1,022,000 | 997,000 | 1,024,000 |
| 1 kg | 26,546,000 | 27,260,000 | 26,598,000 | 27,311,000 | |
Update the latest silver price list of Phu Quy Gold Investment Joint Stock Company on November 9, 2024:
Silver type | Unit/VND | Hanoi | |
Buy | Sell out | ||
Silver bars, Phu Quy 999 silver bars | 1 amount | 1,183,000 | 1,220,000 |
| Phu Quy 999 Silver Bar | 1 kg | 31,546,588 | 32,533,252 |
Latest update on world silver price on November 9, 2024:
| Unit | World silver price today (VND) | |
Buy | Sell out | |
| 1 Ounce | 797,000 | 802,000 |
| 1 finger | 96,093 | 96,704 |
| 1 amount | 961,000 | 967,000 |
| 1 kg | 25,625,000 | 25,788,000 |
In the precious metals group, silver prices increased nearly 2% to 31.8 USD/ounce, platinum prices increased slightly by 0.6% to 999 USD/ounce. Precious metal prices were supported in yesterday's trading session after the FED's decision to lower interest rates and the USD's depreciation.
The US Federal Reserve (FED) has officially announced its decision to lower the target interest rate to 4.5% - 4.75%, equivalent to a decrease of 25 basis points, in line with market forecasts. Notably, in the press conference afterwards, FED Chairman Jerome Powell affirmed that the election will not affect the FED's policy direction in the coming time, and there is no sign that the FED is considering pausing the interest rate cut.
In addition, the weakening of the US dollar from a four-month peak also contributed to the increase in prices of metals. The Dollar Index fell 0.55% to 104.51 points at the end of the trading session. The weakening of the dollar has reduced investment costs and reduced interest rate pressure, thereby attracting cash flow back to the metal market.
Source: https://congthuong.vn/gia-bac-hom-nay-9112024-bac-tang-tro-lai-sau-quyet-dinh-cu-a-fed-357654.html
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