Silver price today 3/20/2025: Domestic silver slightly decreased

Silver price slightly adjusted as the market awaits the decision from the FED

In today’s trading session, silver price in Vietnam had a slight adjustment compared to the previous day. At Phu Quy Gold and Gemstone Group, silver price slightly decreased, currently listed at 1,269,000 VND/tael (buy) and 1,308,000 VND/tael (sell) in Hanoi.

At some other trading locations in the region, silver prices showed signs of recovery after the previous decline, fluctuating around VND1,050,000 – VND1,084,000/tael. In Ho Chi Minh City, silver prices also recorded a slight increase to VND1,052,000/tael (buy) and VND1,090,000/tael (sell).

In the world market, silver prices decreased slightly by 0.33% to USD34/ounce, reflecting investors’ cautious sentiment while waiting for the interest rate decision from the US Federal Reserve (FED). According to the forecast from the Vietnam Commodity Exchange (MXV), the FED is likely to keep interest rates unchanged at this week’s meeting, before making any moves in June.

High interest rates continue to increase the strength of the USD, causing money to flow into bonds instead of precious metals such as silver or platinum. Meanwhile, a newly released report shows that retail sales in the US in February increased more slowly than expected, reflecting signs of slowing economic growth. This comes in the context of President Donald Trump’s administration applying strict import tax policies, raising concerns about production costs and commodity prices.

Domestic gold prices continue to reach new peaks, maintaining a gap with world gold

Today’s gold market continued to record a strong increase, with domestic gold prices reaching an all-time high. At Saigon Jewelry Company (SJC), DOJI Group and Bao Tin Minh Chau, gold prices are currently at VND98 million/tael (buy) and VND99.5 million/tael (sell), up VND1.3 million/tael compared to the previous trading session.

Meanwhile, at Mi Hong Jewelry Company, SJC gold prices remain unchanged at VND98 million/tael (buy) but slightly decreased by VND200,000/tael for sell, down to VND99.5 million/tael. Notably, the price of SJC gold rings of 1-5 chi also increased sharply, currently listed at 98.2 – 99.7 million VND/tael, an increase of 1.2 million VND/tael in both buying and selling directions.

One of the most notable increases is the price of DOJI’s 9999 Hung Thinh Vuong round gold rings, currently reaching 98.8 – 100.3 million VND/tael, marking a record high in the market. Today alone, this price has increased by 1.8 million VND/tael in buying and 1.2 million VND/tael in selling.

While domestic gold prices continuously set new peaks, world gold prices have slightly adjusted. At 4:00 a.m. this morning, Vietnam time, the spot gold price on the international market was at 3,034.44 USD/ounce, a slight increase of 0.05% compared to yesterday. Converted at the free USD exchange rate (25,836 VND/USD), the world gold price is equivalent to 94.5 million VND/tael (excluding taxes and fees). This means that the domestic SJC gold bar price is about 5 million VND/tael higher than the international gold price.

Factors affecting silver

The precious metals market is currently greatly affected by global financial policies and investor sentiment in the face of economic fluctuations. The possibility of the FED delaying interest rate cuts is reducing the attractiveness of gold and silver, as investors tend to switch to higher-yielding assets such as US government bonds.

In addition, the slow recovery of the US economy along with the strict import tax policy of the Donald Trump administration is also creating a lot of pressure on the commodity market. Domestic silver and gold prices tend to increase more strongly than international prices, reflecting the need to store safe assets of domestic investors.

Experts say that if the Fed’s monetary policy continues to keep interest rates unchanged in the short term, gold and silver prices may remain high in the near future. However, adjustments from financial policy or major fluctuations in the market may create significant corrections.