Domestic silver price drops sharply

Silver price today (January 15, 2025), domestic silver price weakened, contrary to the world silver price which is tending to increase slightly.

Silver price today at Phu Quy Jewelry Group, silver price turned down, listed at 1,117,000 VND/tael (buy) and 1,152,000 VND/tael (sell) in Hanoi . In addition, according to a survey at other trading locations in Hanoi, silver price weakened, currently listed at 929,000 VND/tael (buy) and 963,000 VND/tael (sell). In Ho Chi Minh City, silver price also decreased, currently at 931,000 VND/tael (buy) and 969,000 VND/tael (sell). World silver price increased slightly, currently at 755,000 VND/ounce (buy) and 760,000 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 15, 2025:

Silver type	Unit	Hanoi		Ho Chi Minh City
		Buy	Sell	Buy	Sell
Silver 99.9	1 amount	929,000	963,000	931,000	969,000
	1 kg	24,782,000	25,680,000	24,834,000	25,831,000
Silver 99.99	1 amount	937,000	971,000	939,000	973,000
	1 kg	24,988,000	25,892,000	25,030,000	25,943,000

Update the latest silver price list at Phu Quy Gold and Gemstone Group on January 15, 2025:

Silver type	Unit	VND
		Buy	Sell
Silver bars, Phu Quy 999 silver bars	1 amount	1,117,000	1,152,000
Phu Quy 999 Silver Bar	1 kg	29,786,592	30,719,923

Update the latest gold price list at Phu Quy Gold and Gemstone Group on January 15, 2025:

Gold Type	Unit	VND
		Buy	Sell
Phu Quy round gold ring	1 amount	84,600,000	86,100,000
SJC gold bars	1 amount	84,400,000	86,400,000

Latest update on world silver prices on January 15, 2025:

Unit	World silver price today (VND)
	Buy	Sell
1 Ounce	755,000	760,000
1 only	90,997	91,609
1 amount	910,000	916,000
1 kg	24,266,000	24,429,000

After a 0.11% decrease, stopping at 30.50 USD/ounce compared to the previous session, world silver prices increased slightly at the end of the latest trading session.

Silver prices had a strong week last week, rising 4.15% to $31.30 an ounce. This was the highest level in the past 4 weeks and also marked a 7-session winning streak. The reason was driven by investors' demand for shelter, despite positive economic data from the US, such as the December 2024 employment report exceeding expectations and the unemployment rate changing unexpectedly.

In addition, uncertainty surrounding President-elect Donald Trump’s tariff policies could create inflationary factors, which has impacted demand for precious metals such as silver and gold. Investors tend to seek safe-haven assets when there is economic policy uncertainty, especially since tariff policies can affect commodity prices, production costs and the economy in general.

In this context, silver, as a precious metal, is often viewed as a hedge against inflation and a financial risk-reducer. As inflation concerns rise, demand for silver and other precious metals increases.

Source: https://congthuong.vn/gia-bac-hom-nay-1512025-bac-trong-nuoc-giam-manh-369571.html