Silver price today 1/5: Mixed fluctuations

This morning, the world silver price continued to decrease slightly. Domestically, in the Hanoi market, after a strong increase yesterday, both buying and selling prices decreased sharply. In Ho Chi Minh City, the market increased in the opposite direction.

Domestic silver price

Today's silver price at Phu Quy Gold and Gemstone Group, the silver price was adjusted down and listed Phu Quy silver price at 1,253,000 VND/tael (buy) and 1,292,000 VND/tael (sell), down 24,000 VND/tael in both buying and selling compared to yesterday morning's trading session.

Also in Hanoi , at other trading locations, the price is currently listed at VND 1,029,000/tael (buy) and VND 1,058,000/tael (sell), down VND 30,000/tael for buying and VND 31,000/tael for selling compared to yesterday morning.

In Ho Chi Minh City, silver prices are currently at VND1,030,000/tael (buy) and VND1,064,000/tael (sell), up VND31,000/tael for buying and VND30,000/tael for selling compared to yesterday morning's trading session.

Latest information on silver prices in Hanoi and Ho Chi Minh City on May 1, 2025:

World silver price

In the world market, according to giabac.net, at 05:32:51 on the morning of May 1, the spot silver price stopped at 32.627 USD/ounce, down 0.268 USD/ounce compared to yesterday morning's trading session.

Previously, at the end of the trading session on April 30, the world silver price was at 33.58 USD/ounce.

The world silver price is currently at 849,000 VND/ounce (buy) and 854,000 VND/ounce (sell), down 7,000 VND/ounce for both buying and selling compared to yesterday morning's trading session.

Although the world silver price is on the decline, James Hyerczyk - market analyst at FX Empire, assessed that in the long term, the attraction of silver will increase as the supply on the market becomes increasingly scarce.

"According to the Silver Institute's latest forecast for 2025, silver will be short about 117 million ounces, marking the fifth consecutive year of supply falling short of demand," he said.

According to James Hyerczyk, the prolonged undersupply, especially due to high demand from green energy projects, will help to firmly support silver prices. Silver reserves are expected to continue to decrease, creating a stable foundation for silver prices even when the market is volatile./.

Source: https://baodaknong.vn/gia-bac-hom-nay-1-5-bien-dong-trai-chieu-251202.html