Silver prices surge to new highs.

VTV.vn - World silver prices surged to a record high of over $117 per ounce on the morning of January 29th, driving up domestic prices sharply as people sought safe haven assets amidst economic and geopolitical instability.

On the morning of January 29th, world silver prices continued their upward trend, reaching a record high of $117.669 per ounce, amidst geopolitical instability and forecasts of economic fluctuations surrounding US monetary policies. Domestically, many businesses also adjusted their silver prices sharply upwards in both buying and selling directions, following the surge in the global market.

Specifically, at 10:15 AM on January 29th, according to Vietnam Metals Exchange (VME), the price of 99.99% pure silver (excluding fees and VAT) in Hanoi was listed at 3,769,000 VND/ounce (buying price) and 3,799,000 VND/ounce (selling price), with a difference of 30,000 VND/ounce between the buying and selling prices.

In the Ho Chi Minh City market, the price of silver of the same type is listed at 3,770,000 VND/ounce (buying price) and 3,801,000 VND/ounce (selling price).

Phu Quy Gold and Gemstone Group listed the buying and selling prices of 999 silver bars and ingots at VND 4,409,000/ounce and VND 4,545,000/ounce respectively.

The price of Phu Quy 999 silver bars (1kg) is trading at 117,439,706. VND/kg (buying price) and selling price are 121,066,364. VND/kg.

At other brands, Ancarat lists the buying and selling price of silver at 4,405,000-4,541,000 VND/ounce. The price of silver bars from this brand is listed at 117,467,000 VND. VND/kg (buying price) - 121,093,000 VND/kg (selling price).

Sacombank-SBJ listed the buying price of silver at 4,548,000 VND/ounce and the selling price at 4,662,000 VND/ounce, with a difference of 114,000 VND/ounce between the buying and selling prices.

On the global market, according to kitco.com, as of 10:15 AM on January 29th (Vietnam time), the price of silver continued to hover at a record high of $117.669 per ounce, amid geopolitical uncertainties and economic fluctuations surrounding US monetary policies.

In today's trading session, silver prices surged to a new record high of over $117 per ounce, extending year-to-date gains of over 60% amid strong safe-haven demand amid economic and geopolitical uncertainty. Investors continued their preference for the precious metal even after the Federal Reserve kept interest rates unchanged, citing strong economic growth and persistent inflation, while offering few clear signals about a future interest rate cut path.

Things to note when buying silver at high prices.

Experts believe that silver is trending upwards in parallel with gold, and at times even faster, because in addition to its role as a store of value, silver is also linked to industrial needs such as electronics and solar energy. This "dual role" is what makes silver prices more volatile and easily attracts attention when the market heats up.

Amidst the soaring price of silver, the most pressing concern for many is how to buy silver safely. First, it's important to understand that buying silver is not entirely the same as buying gold. According to precious metals businesses, physical silver – especially large silver bars and ingots – is not always readily available for immediate delivery. Many stores use a pre-order system, where buyers pay the listed price at the time of the transaction but must wait a certain period before receiving the silver.

Furthermore, the difference between the buying and selling price of silver is often quite large , especially when the market is highly volatile. This means that if you buy silver solely for short-term speculation, you may face risks even when the price is still high. According to business experts, silver is more suitable for medium- to long-term storage rather than continuous buying and selling.

Another important point is origin and documentation . Legitimate businesses typically only repurchase silver they themselves sell, with complete invoices, clear information on silver purity, and quality standards. Meanwhile, trading silver on the open market carries the risk of buying substandard silver, making it difficult to resell, or being forced to accept lower prices when liquidity is needed.

According to financial experts, people should also remember that silver has a larger price fluctuation range than gold. Silver rises rapidly when the market is hot, but can also correct sharply when speculative demand cools down. Therefore, silver should be considered a supplementary asset in a savings portfolio, alongside gold and cash.

Source: https://vtv.vn/gia-bac-but-pha-len-dinh-moi-100260129143256181.htm