At Phu Quy Gold Investment JSC, silver bullion is listed at VND 1,128,000/tael (buying) and VND 1,163,000/tael (selling). The 1-kilogram silver bar is priced at VND 30,079,925/bar (buying) and VND 31,013,256/bar (selling).
On the global market, silver traded at approximately USD 30/ounce on the morning of November 29, hitting an 11-week low due to reduced appeal and weak industrial demand prospects. The recent ceasefire between Israel and Hezbollah eased geopolitical tensions, diminishing silver’s appeal as a safe-haven asset.
Additionally, expectations of a more cautious stance on interest rate cuts by the US Federal Reserve weighed on silver prices. Economic uncertainties in China, the world’s largest silver consumer, and concerns about negative impacts on the renewable energy sector from President-elect Donald Trump’s policies also contributed to the pessimistic sentiment.
Silver is a key material in the production of solar panels. Any disruptions in China’s renewable energy market would further pressure silver prices.
Is it Time to Invest in Silver Instead of Gold?
While many investment avenues are deemed risky, investing in silver has gained prominence. The demand for silver investment has also increased over the past year.
