Silver price today May 16, 2025: Strong increase both domestically and internationally

Domestic silver price today

According to the record at 11:30 on May 16, 2025 from giabac.net, the domestic silver price also increased sharply. In Hanoi and Ho Chi Minh City, the silver price increased by about 15,000 VND/tael compared to yesterday.

Specifically, in Hanoi, silver prices are fluctuating between 1,029,000 - 1,059,000 VND/tael for both buying and selling. Ho Chi Minh City market also recorded similar prices, commonly around 1,031,000 - 1,065,000 VND/tael.

Notably, at Phu Quy Gold and Gemstone Group, the silver price this morning was listed significantly higher, with the buying price at VND1,243,000/tael and the selling price at VND1,281,000/tael. Although different from the online retail market, this price is still considered an important indicator for the domestic silver price trend.

World silver price today

This morning, May 16, 2025, the spot silver price on the world market increased again. Specifically, the buying price increased by 13,000 VND/ounce and the selling price increased by 12,000 VND/ounce, currently fluctuating between 840,000 - 845,000 VND/ounce, equivalent to about 32.37 USD/ounce. Compared to the previous session, this level increased by 0.46%.

Silver prices had previously been under strong selling pressure due to optimism in financial markets and cooling gold prices. However, this morning's increase shows that demand is returning as investors begin to reassess monetary policies as well as the global geopolitical situation.

According to James Hyerczyk of FX Empire, the expectation that the US Federal Reserve will cut interest rates from September could create a supportive force for silver prices. However, this factor is not strong enough to promote a sustainable upward trend. At the same time, signs of improvement in US-China trade relations have also reduced investment demand for silver.

Kitco expert Jim Wyckoff assessed that speculators still have the upper hand in the short term. The price of $ 34.15 / ounce is currently an important resistance level, while the sellers are trying to pull the price to the support area of ​​​​$ 31 / ounce. The price zones to closely monitor are around $ 33 - 33.48 / ounce (resistance) and $ 32 - 31.86 / ounce (support).

Silver prices are currently showing signs of recovery. However, experts warn that the upward trend still lacks a solid foundation. Variables such as FED policy, industrial activity in China, or global geopolitical risks will be factors that strongly affect silver prices in the coming time.

Source: https://baoquangnam.vn/gia-bac-hom-nay-16-5-2025-tang-manh-ca-trong-nuoc-va-the-gioi-3154877.html