Silver maintains its long-term bullish outlook.

Today's silver price at Phu Quy Gold Investment Joint Stock Company is listed at 1,215,000 VND/ounce (buying price) and 1,253,000 VND/ounce (selling price) in Hanoi. Additionally, according to surveys at other trading locations in Hanoi, the current silver price is listed at 990,000 VND/ounce (buying price) and 1,035,000 VND/ounce (selling price). In Ho Chi Minh City, the listed silver price is higher, at 992,000 VND/ounce (buying price) and 1,037,000 VND/ounce (selling price). The world silver price is currently at 855,000 VND/ounce (buying price) and 860,000 VND/ounce (selling price).

Here is the latest information on today's silver prices in the two largest markets , Hanoi and Ho Chi Minh City, on October 22, 2024:

Silver type	Unit	Hanoi		Ho Chi Minh City
		Buy	Sell	Buy	Sell
99.9% Silver	1 tael	990,000	1,035,000	992,000	1,037,000
	1 kg	26,407,000	27,605,000	26,459,000	27,656,000
99.99% Silver	1 tael	994,000	1,039,000	996,000	1,041,000
	1 kg	26,503,000	27,717,000	26,555,000	27,768,000

Updated silver price list from Phu Quy Gold Investment Joint Stock Company on October 22, 2024.

Silver type	Unit/VND	Hanoi
		Buy	Sell
Phu Quy 999 Silver Bars and Ingots	1 tael	1,215,000	1,253,000
999 Gold Ingots	1 kg	32,399,919	33,413,250

Latest update on world silver prices on October 22, 2024

Unit	Today's world silver price (VND)
	Buy	Sell
1 Ounce	855,000	860,000
1 tael	103,126	103,736
1 tael	1,031,000	1,037,000
1 kg	27,500,000	27,663,000

While gold remains the traditional safe-haven asset, silver is quietly emerging as a shining star in the precious metals market. With growth of nearly 92% over the past five years, silver has surpassed its "sibling" gold and attracted significant interest from investors.

According to trader Bob Loukas's forecast, the price of silver could reach $50 per ounce in the future if the upward trend continues. With the loose monetary policy from the US Federal Reserve (FED), interest rate cuts will increase the attractiveness of silver, especially as non-yielding assets like silver are preferred in a low-interest rate environment.

Geopolitical factors have also contributed significantly to the rise in silver prices. Tensions in the Middle East, along with uncertainty about the global economy, have fueled demand for safe haven assets, making silver a top choice for investors.

Industrial demand for silver is increasing, particularly in sectors such as solar panel manufacturing, electric vehicles, and renewable energy technology. These industries are thriving, driving up the need for silver to meet technical and production requirements.

Furthermore, positive economic data from China – the world's largest consumer of metals – has helped boost demand for silver in the global market. The European Central Bank has also implemented three interest rate cuts this year to control inflation, creating a positive impact on silver prices.

Source: https://congthuong.vn/gia-bac-hom-nay-22102024-bac-duy-tri-trie-n-vong-tang-da-i-han-353835.html