Silver price fluctuations 8.4: World silver prices increase again

Domestic silver price

As of 10:00 on April 8, the price of 999 silver bars at Phu Quy Jewelry Group was listed at VND1.179 - 1.215 million/tael (buy - sell); down VND14,000/tael for buying and down VND15,000/tael for selling compared to early this morning.

The price of 999 gold bars at Phu Quy Jewelry Group was listed at 1.179 - 1.215 million VND/tael (buy - sell); down 14,000 VND/tael for buying and down 15,000 VND/tael for selling compared to early this morning.

At the same time, the price of 999 taels (1kilo) at Phu Quy Jewelry Group was listed at 31.439 - 32.399 million VND/kg (buy - sell).

World silver price

On the world market, as of 10:10 on April 8 (Vietnam time), the world silver price listed on Goldprice.org was at 30.1 USD/ounce.

Causes and predictions

Silver prices have recovered to around 30.05 USD/ounce at the beginning of the week. According to FXStreet, the white metal has increased slightly in the context of concerns about the tariff war and the possibility of global recession, which has boosted demand for safe-haven assets.

Silver prices have seen strong fluctuations since last week, after the US imposed tariffs on key trading partners. Concerns about the economic downturn caused by the global trade war, starting with the tariffs introduced by US President Donald Trump, have caused market sentiment to decline and affected precious metal prices.

However, strong industrial demand, especially from new industries such as electric vehicles (EV) and solar energy, is creating a positive driver for the white metal. Demand is expected to continue to increase in the consumer electronics market, as the development of artificial intelligence systems will continue to promote new products.

This week, traders will pay attention to the US consumer price index (CPI) for March, expected to be released on Thursday. If the report shows lower inflation than expected in the US, this could help the USD appreciate and lead to a decrease in the price of commodities in USD in the short term.