Silver price today July 8: Opposite decrease with Phu Quy silver

World silver prices increased slightly in this morning's trading session. Domestically, listed brands are at stable prices compared to yesterday. Particularly, Phu Quy silver prices at the Group...

World silver prices increased slightly in this morning's trading session. Domestically, listed brands are at stable prices compared to yesterday. Only Phu Quy silver prices at Phu Quy Gold and Gemstone Group (Hanoi) decreased in the opposite direction.

Domestic silver price

At 50:30 on July 8, Phu Quy silver price at Phu Quy Gold and Gemstone Group ( Hanoi ) was listed at 1,384,000 VND/tael (buy) and 1,427,000 VND/tael (sell), down 19,000 VND/tael in both buying and selling compared to yesterday morning's trading session.

Also in Hanoi, according to a survey at other trading locations, the listed silver price was at VND1,155,000/tael (buy) and VND1,188,000/tael (sell), unchanged from the previous session.

In Ho Chi Minh City, silver prices are currently at VND1,157,000/tael (buy) and VND1,194,000/tael (sell), unchanged from yesterday morning's trading session.

World silver price

In the world market, according to giabac.net, at 05:49:25 on the morning of July 8, the spot silver price was trading at 37.076 USD/ounce, up 0.063 USD/ounce compared to yesterday morning's trading session.

Previously, the listed silver price was at 36.72 USD/ounce; down 0.17 USD compared to yesterday morning.

The world silver price is currently at 962,000 VND/ounce (buy) and 967,000 VND/ounce (sell), down 11,000 VND/ounce for both buying and selling compared to yesterday morning's trading session.

In a recent interview, Mr. Ryan McIntyre, senior managing partner at Sprott, said that while he is still optimistic about gold, he is now paying more attention to silver in the short term.

Mr McIntyre's bullish view comes as the gold/silver ratio has fallen below 92, well below its multi-year high above 100 in April.

Easing fears of a global economic slowdown and easing trade tensions are supporting cyclical industrial demand for silver. McIntyre expects both silver and gold to trend higher as retail investors seek assets that protect their wealth and purchasing power.

While many investors focus on industrial demand, which accounts for 60% of the silver market and continues to create large deficits, Mr. McIntyre emphasized silver's role as a tangible asset.

Source: https://baolamdong.vn/gia-bac-hom-nay-8-7-nguoc-chieu-giam-voi-bac-phu-quy-381555.html