Silver price today (November 4), the world silver market and domestic silver have the deepest drop in the past 2 weeks.
Silver price today at Phu Quy Gold Investment Joint Stock Company, silver price is listed at 1,204,000 VND/tael (buy) and 1,241,000 VND/tael (sell) in Hanoi. In addition, according to a survey at other trading locations in Hanoi, silver price is currently listed at 996,000 VND/tael (buy) and 1,026,000 VND/tael (sell). In Ho Chi Minh City, silver price is listed higher, at 998,000 VND/tael (buy) and 1,028,000 VND/tael (sell). World silver price is at 821,000 VND/ounce (buy) and 826,000 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 4, 2024:
Silver type | Unit | Hanoi | Ho Chi Minh City | ||
Buy | Sell out | Buy | Sell out | ||
99.9 silver | 1 amount | 996,000 | 1,026,000 | 998,000 | 1,028,000 |
| 1 kg | 26,554,000 | 27,352,000 | 26,606,000 | 27,403,000 | |
| Silver 99.99 | 1 amount | 999,000 | 1,030,000 | 1,001,000 | 1,032,000 |
| 1 kg | 26,650,000 | 27,464,000 | 26,702,000 | 27,515,000 | |
Update the latest silver price list of Phu Quy Gold Investment Joint Stock Company on November 4, 2024:
Silver type | Unit/VND | Hanoi | |
Buy | Sell out | ||
Silver bars, Phu Quy 999 silver bars | 1 amount | 1,204,000 | 1,241,000 |
| Phu Quy 999 Silver Bar | 1 kg | 32,106,586 | 33,093,251 |
Latest update on world silver price on November 4, 2024:
| Unit | World silver price today (VND) | |
Buy | Sell out | |
| 1 Ounce | 821,000 | 826,000 |
| 1 finger | 99,023 | 99,633 |
| 1 amount | 990,000 | 996,000 |
| 1 kg | 26,406,000 | 26,569,000 |
At the end of the weekend trading session, silver prices continued to weaken. World silver prices fell sharply by 3.75% to 32.79 USD/ounce – the lowest level in the past two weeks.
The main reason for this decline is the expectation that the US Federal Reserve (FED) will continue to lower interest rates in the coming time. The slower-than-expected increase in the personal consumption expenditure (PCE) price index has reinforced this belief. When interest rates fall, the opportunity cost of holding non-yielding assets such as gold and silver decreases, reducing their appeal.
In addition to the impact from the FED, US economic data shows that the world's largest economy is still growing steadily with a solid labor market and increased consumer spending. This causes investors to shift to higher-yielding assets such as stocks, reducing the role of precious metals as a "safe haven".
Given the current developments, the market continues to closely monitor the FED's actions as well as other macroeconomic information. If interest rates are lowered as expected, silver and precious metals prices may continue to decline. However, unexpected factors such as geopolitical tensions or other unusual fluctuations may reverse this trend.
Source: https://congthuong.vn/gia-bac-hom-nay-4112024-bac-the-gioi-suy-gia-m-do-dong-thai-tu-fed-356496.html
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