Domestic silver price
As of 9:30 a.m. on April 4, the price of 999 silver bars at Phu Quy Jewelry Group was listed at 1.224 - 1.262 million VND/tael (buy - sell); down 77,000 VND/tael for buying and down 79,000 VND/tael for selling compared to early this morning.
At the same time, the price of 999 taels of silver at Phu Quy Jewelry Group was listed at 1.224 - 1.262 million VND/tael (buy - sell); down 77,000 VND/tael for buying and down 79,000 VND/tael for selling compared to early this morning.
World silver price
On the world market, as of 9:35 a.m. on April 4 (Vietnam time), the world silver price listed on Goldprice.org was at 31.56 USD/ounce; down 6.41% compared to yesterday's trading session.
Causes and predictions
According to Kitco, silver prices fell sharply, to their lowest level in the past 4 weeks. The May 2025 silver contract decreased by 2.68 USD, equivalent to 7.73%, to 31.97 USD/ounce.
Kitco analyst Jim Wyckoff said that despite the risk-off sentiment covering the financial market, gold and silver - which are safe-haven assets - are under strong selling pressure. Most of the reason is due to profit-taking and selling of pre-buy contracts in the futures market.
"Cererences about global economic growth are rising, especially after the US announced a series of new tariffs on Wednesday afternoon," said expert Jim Wyckoff.
In the context of a volatile market, many investors choose to: "If you can't sell what you want, then sell what you can sell". This contributes to the sale of gold and silver - despite being safe assets.
US stock indexes fell sharply, reaching their lowest level in many months. Meanwhile, the Japanese Yen and the Swiss francs are being bought strongly due to the need for safe havens.
In other financial markets, the USD index also declined, to its lowest level in 6 months. WTI crude oil prices plummeted, currently trading around 66.25 USD/barrel. The yield on the 10-year US Treasury note is currently around 4.05%. US bonds are benefiting from safe-haven cash flow.
According to expert Jim Wyckoff, new developments in US tariffs have completely overwhelmed the March jobs report, due to be released on Friday (local time). Analysts predict that the number of non-farm jobs will increase by 140,000, lower than the 151,000 in February.
The expert assessed that silver futures speculators are gradually losing their advantage in the short term. On the daily chart, the three-month uptrend has been broken.
The next target for buyers is to push silver prices above the important resistance level at 34.50 USD/ounce. On the contrary, the sellers are aiming to pull prices below the strong support level at 31.365 USD/ounce.
The first resistance level for silver prices was at 32.50 USD/ounce, followed by 33.00 USD/ounce. Meanwhile, the current important support levels are 31.85 USD/ounce and 31.365 USD/ounce.
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