Silver price on May 29: Continuing to decline for the second session

Silver price today, May 29, 2025 continued to decrease in the second session. According to the survey at 7:00 a.m. today, May 29, 2025, domestic and world silver prices continued to decrease slightly. In Hanoi and Ho Chi Minh City, silver prices decreased by 10,000 - 11,000 VND/tael for buying and selling.

In the domestic market, surveyed at 7:30 a.m. on May 29, 2025 at Phu Quy Gold and Gemstone Group, the listed silver price was at 1,271,000 - 1,310,000 VND/tael, down 11,000 VND/tael for buying and selling.

In Hanoi , the silver price in this morning's online session continued to decrease by 10,000 VND/tael for buying and selling compared to the previous session on May 28, currently being purchased in the range of 1,055,000 - 1,085,000 VND/tael.

In the same direction of decrease, in Ho Chi Minh City, silver price decreased by 11,000 VND/tael for buying and 10,000 VND/tael for selling, currently listed at 1,057,000 - 1,087,000 VND/tael.

In the world market, the silver price at the time of survey at 07:35:02 today, May 29, 2025, the silver price continued to decrease by 8,000 VND/ounce in the buying and selling direction, currently listed at 855,000 - 860,000 VND/ounce. This level is equivalent to about 33.12 USD/ounce, down 0.37% compared to the session on May 28.

In the context of silver prices increasing more slowly than gold due to weak industrial demand, expert Francisco Blanch of Bank of America is still optimistic, setting a target that silver prices can reach 40 USD/ounce in the near future.

Silver is an attractive investment because it combines the roles of a precious metal and an industrial metal, according to expert Francisco Blanch. Although the price increase is mainly due to the “precious metal” factor, he believes that a recovery in manufacturing, especially in the clean energy sector – where silver is widely used in solar panels – will provide further support for prices.

Source: https://baoquangnam.vn/gia-bac-ngay-29-5-tiep-da-giam-phien-thu-hai-3155709.html