On the morning of October 17th, global silver prices continued their upward surge, reaching a new high of over $54 per ounce. In Vietnam, silver prices from Phu Quy and Ancarat also saw significant increases.
Crowds queuing to buy silver at Phu Quy’s store
Phu Quy’s 999 silver bars and ingots are priced at VND 2,073 million per tael for buying and VND 2,137 million per tael for selling. The 1 kg Phu Quy 999 silver ingot saw a rapid increase, with a buying price of VND 55,279 million per kg and a selling price of VND 56,986 million per kg, up 1.7% from yesterday’s opening price.
Meanwhile, Ancarat’s silver prices also surged to VND 54,370 million per kg for buying and VND 55,874 million per kg for selling.
Ancarat limits the number of buyers per day
At several Phu Quy Jewelry stores, people began lining up to buy silver before 6 a.m. Within 30 minutes of opening, the stores announced they were sold out and temporarily stopped taking orders for the day.
Crowds queuing at Ancarat from 7 a.m.
Mr. Nguyen Hoang Viet, Director of Ancarat’s Xa Dan branch, stated that despite the store opening at 8 a.m., people were already queuing to secure their purchase numbers an hour earlier. Within minutes, all numbers were distributed.
Crowds queuing at Phu Quy
Mr. Nguyen Khanh Long, a precious metals market analyst at Phu Quy, noted that both gold and silver prices have continuously broken records, with silver surpassing its all-time high set over 14 years ago.
Record silver prices drive crowds to buy silver
“Silver’s growth has been remarkably impressive in 2025, with an increase of over 87% since the beginning of the year. While silver started slower than gold, it experienced rapid growth in the second and third quarters, surpassing gold. This growth has prompted many Vietnamese investors to rush into buying silver, fearing further price increases this year. The market is proving these concerns to be valid, and many experts predict this upward trend is just beginning,” said Mr. Nguyen Khanh Long.
After 30 minutes, Phu Quy announces sold out
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