At Phu Quy Gemstone and Gold Group, silver prices today dipped slightly from the previous session, trading at VND 1,408,000/lTroy ounce (buying) and VND 1,452,000/lTroy ounce (selling) in Hanoi.
Meanwhile, the price of 999 fine silver bars was VND 37,546,573/kg (buying) and VND 38,179,903/kg (selling), as of 8:55 am on June 19th.
Globally, silver reached USD 36.64/ounce, equivalent to VND 958,000-963,000/ounce.
Silver prices dipped below USD 37/ounce on Wednesday (June 18th), retreating from their highest level since 2012 reached in the previous session, as investors digested the Federal Reserve’s decision to keep interest rates unchanged amid escalating tensions in the Middle East.
Despite the modest pullback, silver remains elevated, buoyed by robust industrial demand, persistent supply deficits, and safe-haven buying amid geopolitical uncertainties. Silver’s increasingly crucial role in solar energy, electronics, and electrification now accounts for more than half of global demand, underscoring its growing structural importance. On the supply side, the silver market faces a fifth consecutive year of deficit.
Geopolitical risks further enhance silver’s appeal, as Iran’s Supreme Leader rejected President Trump’s call for unconditional surrender, triggering mass evacuations from Tehran amid heightened Israeli airstrikes.
Many experts believe that with prolonged geopolitical tensions, high industrial demand, and the potential for central banks to ease monetary policies, silver could be poised for an extended growth cycle.
Silver, beyond its precious metal investment appeal, plays a critical role in various industries, including electronics manufacturing, solar energy, healthcare, and battery production.
Silver Bullion Prices Soar: A Year of Record-Breaking Gains
Silver bullion prices in the domestic market have surged to an all-time high.
Silver Price Today, June 16: Sustaining High Levels on Monday’s Opening Trade
The domestic and global silver prices remain relatively stable, with no significant fluctuations to report.
Today’s Silver Price, June 12th: Slight Fluctuation Following All-Time High
The domestic and global silver prices witnessed a slight dip but remain at elevated levels.
Silver Bullion Prices Surge to All-Time Highs in Domestic Market
Silver bar prices in the domestic market have soared by over 36% in the past year.
Silver Prices Soar: Up Almost 14% in a Month
This morning, silver prices continued their upward trajectory in the global market, surging to a high of $37 per ounce. Last weekend, silver witnessed a remarkable rally, soaring from $34 to $36 per ounce within a few hours. Phu Quy’s selling price for silver has climbed to 1,418,000 VND per tael.
