Silver price today 5/16/2025: Silver price plummets

Surveyed at 4:30 this morning, today's silver price, May 16, 2025, at Phu Quy Gold and Gemstone Group, Phu Quy silver price is listed at 1,230,000 VND/tael (buy) and 1,268,000 VND/tael (sell). Compared to yesterday, the silver price decreased by 29,000 VND/tael in the buying direction - decreased by 30,000 VND/tael in the selling direction.

In addition, according to a survey at other trading locations in Hanoi , domestic silver prices dropped sharply by VND 11,000/tael in both buying and selling directions, currently listed at VND 1,030,000/tael (buy) and VND 1,060,000/tael (sell).

In Ho Chi Minh City, silver price increased by 3,000 VND/tael for buying and 8,000 VND/tael for selling, currently at 1,032,000 VND/tael (buy) and 1,066,000 VND/tael (sell).

Specifically, the latest information on silver prices today in the two largest markets of Hanoi and Ho Chi Minh City on May 16, 2025:

Silver type	Unit	Hanoi		Ho Chi Minh City
		Buy	Sell	Buy	Sell
Silver 99.9	1 amount	1,030,000	1,060,000	1,032,000	1,066,000
	1 kg	27,473,000	28,271,000	27,525,000	28,422,000
Silver 99.99	1 amount	1,038,000	1,068,000	1,040,000	1,070,000
	1 kg	27,679,000	28,483,000	27,721,000	28,534,000

Update the latest silver price list at Phu Quy Gold and Gemstone Group on May 16, 2025:

Silver type	Unit	VND
		Buy	Sell
Silver bars, Phu Quy 999 silver bars	1 amount	1,230,000	1,268,000
Phu Quy 999 Silver Bar	1 kg	32,799,918	33,813,249

Latest update on world silver prices on May 16, 2025:

On the world market, the silver price listed on Goldprice.org is at 32.39 USD/ounce, up 0.12 USD/ounce compared to yesterday.

World silver price today (VND)
Unit	Buy	Sell
1 Ounce	841,000	846,000
1 Only	101,344	101,969
1 Amount	1,013,000	1,020,000
1 Kg	27,025,000	27,192,000

Silver Price Forecast

Silver prices came under heavy selling pressure on Wednesday, driven largely by a more positive global investor sentiment, according to FX Empire. A cooling gold market also contributed to a decline in interest in precious metals such as silver.

Analyst James Hyerczyk said that despite expectations that the US Federal Reserve (FED) will start cutting interest rates in September by about 53 basis points, silver prices are still struggling to find momentum. The reason is that low interest rates are usually beneficial for silver, but in this case, the supporting factors are not strong enough to keep prices going up.

Another factor weighing on silver prices is the improvement in trade relations between the US and China. As trade tensions ease, investor risk appetite increases, reducing demand for safe-haven assets like silver.

Meanwhile, Kitco’s Jim Wyckoff said that July silver futures bulls still have the advantage in the short term. He said that buyers are aiming to push prices above key resistance at $34.015 an ounce, while sellers are looking to push prices below strong support at $31 an ounce.

Currently, the key levels on the silver price chart are resistance at $33 and $33.48 per ounce, while support is at $32 and $31.86 per ounce. These are the price levels that the market will need to closely monitor to determine the next trend.

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Source: https://baonghean.vn/gia-bac-hom-nay-16-5-2025-gia-bac-lao-doc-khong-phanh-10297388.html