Silver prices at Ancarat Vietnam JSC remain high, with buying and selling rates at 1,903,000 VND/tael and 1,961,000 VND/tael in Hanoi, respectively. Over the past year, silver prices have surged by 76%, outpacing the growth of gold prices.
Meanwhile, 1kg 999 fine silver bars are priced at 49,864,000 VND (buy) and 51,314,000 VND (sell) as of 8:54 AM on October 10th.
Globally, silver reached a high of $49.6 per ounce.
Spot silver prices spiked over 4% to a record high of $51 per ounce during the evening session on October 9th, driven by strong safe-haven demand and tight supply. However, prices retreated to $49.6 per ounce by the morning of October 10th.
This precious metal has surged more than 70% this year, outperforming gold, due to concerns over U.S. financial risks, expectations of lower interest rates, doubts surrounding the Federal Reserve’s independence, and unsustainable global deficits and debt levels.
The shortage of available silver in the London market further supports prices. With diverse applications ranging from investment to industrial uses—such as solar panels and wind turbines—silver demand is projected to exceed supply for the fifth consecutive year in 2025.
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