In 2024, Vietnamese investors witnessed the emergence of a new investment trend: silver bars and silver jewelry and collectibles. Although it is a familiar asset, silver became prominent when international prices increased sharply and domestic transactions were more active than in previous years.
In 2024, the international silver price increased impressively from under 22 USD/ounce to 29 USD/ounce at the end of the year, equivalent to an increase of about 32%, exceeding the increase of nearly 26% of gold and about 13% of VN-Index in the same period.
However, the 2024 breakout does not seem to be a record when compared to the increase from the beginning of 2025 until now. As of the end of the trading session on July 11, the price of silver on the international market reached nearly 38.4 USD/ounce, equivalent to an increase of 3.65% in just one weekend session, thereby bringing the price of silver from the beginning of the year to date up 32.4%, exceeding the increase in the whole year of 2024.
Domestically, silver bar prices increased sharply to over 40.1 million VND/kg, about 8 million VND higher than at the beginning of the year.
As of early morning on July 12, a large trading unit listed the silver price at VND1,505 million for a 10-chi bar (ie 37.5 grams), equivalent to about VND40.1 million/kg. Meanwhile, the world silver price was at over USD38/ounce, equivalent to about VND1.2 million for a 10-chi bar.
1kg 999 silver bar is equivalent to about 266.7 chi.
The price of each tael of silver has increased sharply from over 1 million VND at the end of 2024, but a kilogram of silver is still only about 40 million VND - much lower than the price of SJC gold bars (121.5 million VND/tael), bringing a feeling of ease in trading. Buying and storing monthly is also convenient.
World silver prices increased sharply due to money flowing to safe physical investment channels and because gold increased too strongly in the context of a world full of trade and geopolitical instability.
In addition to the series of high tariffs that Mr. Trump announced during the week of July 7-11, sent to 23 countries, with Brazil bearing the highest rate of 50%, investors are also worried about escalating tensions between the US and Russia and the Red Sea being in turmoil due to Houthi forces attacking several ships passing through the area.
The Red Sea is one of the world's most important maritime trade routes, especially for the transport of oil, gas, and goods between Asia, Europe, and Africa. It is the shortest shipping route between Europe and Asia, compared to having to go around the Cape of Good Hope in Africa.
Gold has been strong in 2024 and up about 25% since the start of 2025, but has slowed in recent weeks due to historic highs and profit-taking. Silver is seen as an option.
Many potential risks
Also a precious metal and widely used in many industries, silver has long been of great interest and investment to investors around the world. Silver is a precious metal widely used in electronics (making microchips, contacts), medicine (antibacterial, medical equipment), solar energy (solar cells), photography, jewelry and currency.
But in Vietnam, this metal has only recently become more popular. Silver's profitability is also quite impressive according to recent price movements.
However, there are many potential risks to this investment channel. First of all, it is the very strong price fluctuations of this type of asset.
Silver prices have historically been hot, rising from $4 an ounce in 1977 to $35 an ounce in 1980. Two years later, silver fell back to $5.50 an ounce. In 1992, silver fell to $3.30 and by early 2006, it was still hovering below $10 an ounce.
Silver peaked at nearly $50 an ounce in 2011, then fell below $14 in 2015, before rising to around $40 today.
It can be seen that the price of silver fluctuates much more erratically than gold. With its position as the world's leading reserve asset, the price of gold has fluctuated in an upward direction over the past half century, from about $50 in 1970 to the current $3,350/ounce.
Each adjustment is not much, usually only about 5-7%, the highest is only 2-3 times in the past 50 years and also at a level of only about 30%.
While silver prices fluctuate sharply according to the demand for this metal in industry, according to the demand of major economies in the world, including China. The decrease can be up to 70-80%/period.
Besides, investing in silver also has liquidity risks. In the world, gold investment and trading activities are often carried out on the floor, through accounts. But in Vietnam, silver trading is mainly jewelry and collectible products. Recently, silver bars have appeared for investment and storage needs.
Furthermore, there are few businesses in the market that buy and sell this item. Liquidity is not high and this is also the reason why groups appear on social networks to buy, sell and exchange. Another thing that worries many people is that the quality of silver is difficult to control. Silver also has the disadvantage of being more difficult to preserve because it is easily oxidized.
In the context of global money flows also looking for shelter, silver is an option. In Vietnam, it is the same. However, when the financial market stabilizes, assets including gold, stocks and real estate can also fall. Silver can fall even faster due to the above weaknesses. If the world economy stagnates, low demand in the industrial sector can cause silver to fall sharply.
Source: https://vietnamnet.vn/con-sot-bac-thoi-loi-nhuan-cao-hon-vang-nhung-tiem-an-rui-ro-lon-2420879.html
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