Silver prices have experienced a significant drop after a week of fluctuations, reflecting cautious investor sentiment in response to mixed economic signals from the U.S. economy. As of 9:00 AM on July 12, the domestic price for 999 silver (1 tael) at DOJI Gold and Gemstone Group is listed at 2,255 - 2,330 million VND (buy-sell), marking a decrease of 92,000 VND for buying and 95,000 VND for selling compared to the previous week.

Simultaneously, the price of 999 silver (1 tael) at Phu Quy Gold and Gemstone Group is quoted at 2,260 - 2,330 million VND (buy-sell), also down by 92,000 VND for buying and 95,000 VND for selling. The price of 999 silver bars (1 kg) at the same group is now at 60,266 - 62,133 million VND (buy-sell), reflecting a decrease of 2.453 million VND for buying and 2.533 million VND for selling compared to the previous week.

On the global market, as of 9:00 AM on July 12 (Vietnam time), the price of silver is listed at $59.76 per ounce, down by $2.60 from the previous week. The decline in silver prices is attributed to investor concerns regarding the impact of U.S. economic data. While weaker-than-expected job figures provided some support, the cautious stance of the Federal Reserve and high bond yields have limited the recovery of this precious metal.

According to the June employment report, the economy added only 57,000 jobs, significantly below expectations, while the unemployment rate remained at 4.2%. This data reinforces expectations that the Fed will adopt a more cautious approach in its monetary policy decisions, which could support gold and silver prices. However, recent Fed meeting minutes indicate ongoing concerns about inflation, leading investors to hesitate in increasing their holdings of precious metals.

Looking ahead, investors will closely monitor U.S. inflation data (CPI), geopolitical tensions in the Middle East, and new signals from the Fed. If inflation cools, pressure from bond yields may ease, allowing precious metal prices to recover. Conversely, if fuel prices continue to rise due to energy supply risks, the market may grow increasingly concerned about inflation, awaiting policy responses from the Fed.

Christopher Lewis, a precious metals analyst, notes that the $60 per ounce mark is a critical price level for the market to watch, as it has been a significant trading threshold in the past. If silver fails to maintain this level and continues to decline, it could fall to $57 per ounce. Should it break below $57 per ounce, silver prices may drop even further, potentially approaching $50 per ounce.

In the short term, the recovery of silver remains under pressure from macroeconomic factors. The strong U.S. dollar and high interest rates diminish the appeal of non-yielding assets like silver. Nevertheless, the analyst maintains a positive long-term outlook for silver, given the current supply shortage in the market compared to demand.