Silver "plummets" on New Year's Day

Silver price today (January 1), silver price dropped sharply on the first day of the new year 2025.

Silver price today at Phu Quy Jewelry Group, silver price decreased slightly, listed at 1,082,000 VND/tael (buy) and 1,115,000 VND/tael (sell) in Hanoi. In addition, according to a survey at other transaction locations in Hanoi, silver price decreased sharply, currently listed at 907,000 VND/tael (buy) and 948,000 VND/tael (sell). In Ho Chi Minh City, silver price also decreased, currently at 909,000 VND/tael (buy) and 950,000 VND/tael (sell). World silver price is currently at 736,000 VND/ounce (buy) and 741,000 VND/ounce (sell).

Specifically, the latest information on silver prices today in the two largest markets of Hanoi and Ho Chi Minh City on January 1, 2025:

Silver type	Unit	Hanoi		Ho Chi Minh City
		Buy	Sell	Buy	Sell
Silver 99.9	1 amount	907,000	948,000	909,000	950,000
	1 kg	24,185,000	25,283,000	24,237,000	25,334,000
Silver 99.99	1 amount	915,000	956,000	916,000	958,000
	1 kg	24,391,000	25,495,000	24,433,000	25,546,000

Update the latest silver price list at Phu Quy Gold and Gemstone Group on January 1, 2025:

Silver type	Unit/VND	Hanoi
		Buy	Sell
Silver bars, Phu Quy 999 silver bars	1 amount	1,082,000	1,115,000
Phu Quy 999 Silver Bar	1 kg	28,853,261	29,733,259

Latest update on world silver prices on January 1, 2025:

Unit	World silver price today (VND)
	Buy	Sell
1 Ounce	736,000	741,000
1 only	88,773	89,387
1 amount	888,000	894,000
1 kg	23,673,000	23,837,000

Domestic and international silver prices have had a sharp decline amid low liquidity due to the 2025 New Year holiday.

Although geopolitical tensions between Israel and Iran have escalated, which typically supports safe-haven assets like silver, pressure from the 10-year US Treasury yield rising to 4.61% has kept silver prices down.

In addition, expectations for the US Federal Reserve's (FED) interest rate policy also contributed to restraining silver's rise, as the FED is expected to make fewer interest rate cuts than expected in 2025.

Despite facing many fluctuations, silver prices are expected to increase sharply next year thanks to industrial demand and limited supply...

Many analysts and investment banks believe that silver could once again outperform gold in 2025.

In its 2025 outlook, commodity strategists at TD Securities said that the economic recovery in the US and China in the second half of 2025 will significantly boost demand. “ We expect silver prices to average $36/oz in the final months of 2025, making it an outperformer among commodities ,” TD Securities noted.

Source: https://congthuong.vn/gia-bac-hom-nay-112025-bac-lao-doc-nga-y-da-u-nam-moi-367262.html