According to data from Phu Quy Jewelry Corporation, silver prices continue to rise, with 999 fine silver (1 tael) listed at VND 1,849,000 per tael (buy) and VND 1,906,000 per tael (sell). Over the past month, buyers have seen a 17.5% profit, and a 63.6% gain over the past year.
Meanwhile, 999 fine silver bars (1 kg) have also surged, priced at VND 49,306,543 per bar (buy) and VND 50,826,540 per bar (sell), as of 08:13 on October 6th.
Globally, silver prices jumped to $48.28 per ounce.
On a macroeconomic level, the weakening US dollar and expectations of further rate cuts by the Federal Reserve are making non-yield assets like silver more appealing.
Additionally, global instability is driving investors toward safe-haven assets, with silver often outperforming gold as investor sentiment shifts positively.
Robert Kiyosaki, author of the bestselling book “Rich Dad Poor Dad,” has made a bold prediction that silver investments could quintuple in value next year.
Specifically, in a social media post on X dated September 28th, Kiyosaki stated: “If I had only $100, I’d buy silver. The silver market is about to explode. I predict that $100 today could turn into $500 within a year.”
According to Kiyosaki, silver is particularly attractive because its value remains lower than its actual potential, while industrial demand continues to grow. Coupled with the Fed and major central banks’ expected loose monetary policies, precious metals may remain buoyant in the coming period.
A Fresh Perspective on Exchange Rates
The U.S. Federal Reserve’s (Fed) 0.25 percentage point rate cut has eased pressure on the Vietnamese dong’s exchange rate against the U.S. dollar, allowing Vietnam to maintain its accommodative monetary policy. However, a more fundamental solution is still required to address this issue effectively.
Silver Prices Plunge Across the Board
Today’s silver prices both domestically and globally have plummeted, marking a sharp decline following several consecutive sessions of significant gains.
Gold & Silver Rush: Sharks and Whales Pour Billions into Precious Metals Amid Soaring Prices
Global gold funds have collectively amassed nearly 590 tons of gold, while the world’s largest silver fund has acquired approximately 1,100 tons of silver since the beginning of the year.
Silver Prices Rebound Amid Concerns Over US Government Shutdown
Silver prices today, both domestically and globally, have stabilized following the previous session’s decline.
“Rich Dad Poor Dad” Author: ‘I’d Invest in This Asset Right Now—$100 Today Could Turn into $500 in a Year’
“With just $100, I’d invest in silver. The silver market is on the brink of a massive surge. I predict that $100 invested today could potentially grow to $500 within a year,” forecasts Robert Kiyosaki.
