Commodity markets: Silver prices under pressure

The Vietnam Commodity Exchange (MXV) said that at the end of the session, the MXV-Index increased slightly to 2,239 points, breaking the streak of three consecutive sessions of decline.

The market for industrial raw materials is "bright green". Source: MXV

The industrial materials group recorded positive buying power with 8/9 items simultaneously closing in green.

Coffee prices continued to increase slightly, extending the upward trend to the third consecutive session. Arabica coffee prices recorded an increase of more than 1.1% to 6,720 USD/ton, while Robusta coffee prices also increased by nearly 1.5% to 3,349 USD/ton.

Although the coffee harvest in Brazil is entering its final stages, most farmers remain cautious and are not ready to sell at current prices.

In addition, a new cold spell is forecast in coffee growing areas in Brazil in the next few days, increasing the risk of affecting the crop, which has already suffered many disadvantages in recent times.

The metal commodity market is "red". Source: MXV

On the other hand, the metal market witnessed overwhelming selling pressure with 9/10 items falling in price. In particular, silver prices had a second consecutive session of weakness, down more than 0.7% to 39.22 USD/ounce.

This decline mainly comes in the context of the market assessing positive developments in trade negotiations between Washington and international partners, as well as the possibility of the US adjusting interest rates.

Notably, the US has reached an important trade agreement with Japan, with the reciprocal tariffs applied to Japanese goods exported to the US to be reduced from 25% to 15%. In return, Japan has committed to implementing an investment and loan package of up to 550 billion USD for the US market in the coming time.

In the domestic market, silver prices recorded movements in line with international trends. In Hanoi , silver prices decreased in both buying and selling directions, listed at 1,221,000 VND/tael (buy) and 1,255,000 VND/tael (sell).

In Ho Chi Minh City, silver prices also decreased similarly, currently fluctuating around VND1,223,000/tael for buying and VND1,260,000/tael for selling.

Source: https://hanoimoi.vn/thi-truong-hang-hoa-gia-bac-chiu-nhieu-suc-ep-710328.html