Phú Quý Group, one of the leading precious metal companies in Vietnam, reports that silver prices remain stable today, trading at 1,274,000 VND per tael for buyers and 1,313,000 VND per tael for sellers in Hanoi.
Meanwhile, the price of 1kg silver bars is listed at 33,973,248 VND per bar for buyers and 35,013,248 VND per bar for sellers, as of 8:45 am on May 26th, 2025.
Turning to the global market, silver is trading at $33.50 per ounce in the latest survey on May 26th, 2025, equivalent to VND 870,000-876,000 per ounce, reflecting a 0.24% increase from the previous session.
According to FXStreet, the decline in the US dollar has provided support for silver prices. The US Dollar Index (DXY), which measures the strength of the greenback against a basket of six major currencies, has fallen to its lowest level in over three weeks, around 99.10.
“Technically, the weakness in the US dollar makes silver more attractive to investors,” experts at FXStreet noted.
The US dollar is under pressure due to growing concerns about the US fiscal imbalance, following the House’s passage of the tax cut and spending increase proposed by President Donald Trump.
“Additionally, escalating trade tensions between the US and the European Union (EU) are also contributing to the support for silver prices. In fact, demand for safe-haven assets like silver tends to increase during periods of heightened global economic risk,” FXStreet experts added.
Renowned analyst Jim Wyckoff from Kitco believes that speculators in the July silver futures market hold a short-term advantage.
The buyers’ next target is to push silver prices above the key resistance level of $34.015 per ounce. Conversely, sellers aim to pull prices below the critical support level of $31.78 per ounce, which was the low reached in May.
Key resistance levels for silver are $33.50 and $34.015 per ounce, while significant support levels are currently $33.00 and $32.74 per ounce.
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