Silver Bullion and Silver Coin Fever: New Investors Rush In

The silver fever is heating up as the world silver price increases sharply, directly affecting the domestic silver bar price. On the morning of July 15, Phu Quy listed the silver bar price at VND38.826 million/kg (buy) and VND40.026 million/kg (sell), with an increase of 4% in just one week. The silver market is experiencing strong fluctuations, attracting the attention of investors.

Cơn sốt bạc thỏi và bạc miếng: Nhà đầu tư mới đổ xô tham gia - Ảnh 1. — Silver bar and ingot "fever" attracts many new investors in Vietnam

A survey by Nguoi Lao Dong Newspaper at Phu Quy store on Tran Nhan Tong street on the morning of July 15 found many customers coming to buy silver bars and ingots.

Mr. Le Manh Toan, Giap Bat ward, said he had just bought 1 kg of silver bars and 10 taels of silver pieces. "This is the first time I have bought silver for investment. I bought it because I saw that this investment channel has quite a lot of potential and a good rate of return. However, I intend to buy it for long-term storage, about 1-2 years before selling it," said Mr. Toan.

Meanwhile, Mr. Nguyen Van Manh, Giang Vo ward, shared that today he went to the store to buy 2 taels of gold and saw many people buying silver so he decided to buy some silver to stock up.

The silver bullion and silver coin craze is booming.

Faced with high demand, a representative of Phu Quy Group said that with many customers buying in large quantities, the store has to make an appointment for customers to deliver the silver later. If customers buy in small quantities, the product will be delivered right at the checkout counter.

"The number of customers coming to the store is very large, increasing continuously from 2024 until now. Especially after the period when gold prices increased very strongly, anchored at a high price range, many people tend to invest in silver bars and silver ingots" - said a representative of Phu Quy.

Silver is chosen for investment because it is a precious metal, with great potential and room for growth in the future with the development of AI, semiconductors, renewable energy, electric vehicle batteries, etc.

However, Phu Quy recommends that investors in physical silver need to understand the investment channel and have a stable mentality because silver prices fluctuate much more than gold prices.

For example, there are times when silver's price fluctuations can be as high as 2% in a day, and require long-term investment rather than short-term trading.