A metal that increased by 75% in just 6 months, far surpassing gold

(Dan Tri) - Domestic and international silver prices increased sharply in November, becoming one of the assets with the most impressive increase in the commodity market.

In the international market, the spot price of silver today (December 2) increased by 2.4%, to nearly 57.88 USD/ounce - a new record for this commodity. In the last session of last week (November 28), the price of silver also increased by nearly 6% and recorded an increase of 12% in the past week.

Over the past six months, silver prices have increased by a total of 75%, from $33 an ounce to the current $57.88 an ounce. Over the past three years, the commodity has increased 3.2 times, compared to the 2.5 times increase of gold over the same period.

The sharp increase in silver prices on the international market has also pushed up domestic prices. Currently, large enterprises are listing silver prices at 57,466-59,253 million VND/kg (buy - sell), also up about 15% compared to the beginning of the month, continuing to follow the strong increase in the world market.

Why is the price of silver increasing so much?

According to the market report just released by Phu Quy Gold and Gemstone Group, the strong increase of silver in November came from a series of consecutive supporting information.

At the beginning of the month, the US government added silver to the list of “important strategic minerals”, opening the way for Washington to intervene more deeply to ensure national security. At the same time, silver inventories in Shanghai fell to a 10-year low, while ETFs increased purchases, creating a significant push for prices.

Rising geopolitical tensions also sent safe-haven flows into precious metals, helping silver surpass its historic peak set in October.

Global economic and political factors continue to reinforce the bullish trend: the US government ended its 43-day shutdown, the US and Switzerland reached a new trade agreement, China exported 660 tons of silver to the UK in October, and signs of cooling in US-China relations after the meeting between President Donald Trump and President Xi Jinping.

Silver item illustrated by AI (Photo: AI).

Meanwhile, physical demand has surged. Silver stocks in the SLV ETF rose by more than 420 tonnes and in PSLV by more than 18 tonnes in November. Inventory data from major trading centers shows that supply is tightening: In Shanghai, despite a slight increase last week, November stocks were just 558 tonnes - down more than 106 tonnes from October and the lowest in a decade.

In the US, silver on the Comex floor fell by more than 800 tonnes in November, reaching its lowest level since March 2025 and the steepest decline of the year. In contrast, inventories in the UK have been rising steadily since April. By the end of October, the total volume on the LBMA reached 26,252 tonnes, up more than 2,725 tonnes from the beginning of the year. Increased physical demand combined with ETF accumulation kept silver prices rising throughout November.

Moving into December, the silver market is expected to continue to be volatile as major central banks make interest rate decisions. Expectations that the Fed will cut interest rates this month have exceeded 87%, causing the USD to weaken in late November - a factor that continues to support silver prices.

Employment, manufacturing and services data due in early December will be key to the Fed’s policy in early 2026. If the UK and Europe keep interest rates unchanged and the Fed maintains a “soft hawk” stance, the USD could continue to weaken, providing further support for precious metals.

Phu Quy's report stated: "Silver's strong rally could continue if economic data continues to support the Fed's interest rate cut in December and further easing in 2026. With prices having surpassed all-time highs, the market no longer has a psychological resistance level close to it. Silver could move towards the $60/ounce zone in December."

Silver item illustrated by AI (Photo: AI).

Experts warn: Silver fever can easily lure investors into the FOMO trap

Mr. Nguyen Quang Huy, CEO of the Faculty of Finance and Banking, Nguyen Trai University, commented that the silver market, like other precious metals, moves in cycles and always has unpredictable fluctuations.

He said that sharp short-term corrections are normal and sometimes necessary for the market to rebalance. Gold and silver prices are simultaneously affected by interest rate expectations, USD fluctuations, economic indicators and portfolio restructuring activities of large organizations, causing the market to change very quickly at some points.

Therefore, according to Mr. Huy, investors need to approach the market objectively and systematically, instead of expecting prices to move in a straight line or making decisions based on temporary psychology. Equipping themselves with economic and financial knowledge, improving their ability to analyze data and manage emotions are key factors to deal with fluctuations. “Reasonable allocation of proportions and building a suitable portfolio will help investors stay calm in the face of fluctuations,” he said.

Amid the surge in silver trading, he also warned of risks in product quality. The lack of standardization in the market makes it easy for many people to buy products of poor quality, adulteration or unknown origin. “If you only look with the naked eye or listen to offers without verification tools, the risk is very high. Not all products have the real value as initially expected,” he noted.

In addition, silver has a wide range of fluctuations: It can increase sharply when favorable but can also decrease sharply in a short time. This makes it easy for investors who lack knowledge and discipline to fall into losses. The phenomenon of FOMO - fear of missing out - makes investors more likely to act hastily when the market is hot.

Mr. Huy emphasized that in a volatile environment, risks from product quality and crowd psychology can cause participants to suffer losses if they make decisions based on emotions. “The silver market can be attractive, but to participate responsibly, people need to equip themselves with solid knowledge and always stay alert,” he affirmed.

Source: https://dantri.com.vn/kinh-doanh/mot-kim-loai-tang-soc-75-chi-sau-6-thang-vuot-xa-vang-20251202192050811.htm