According to data from Phu Quy Jewelry Corporation, silver prices today have stabilized after a sharp decline. Silver 999 per tael is listed at VND 1,997,000 (buy) and VND 2,059,000 (sell). Over the past week, silver’s gain was a modest 2.8%, reducing investor profits from 83% to 65.5% over the past year.
Meanwhile, 1kg silver bars also saw a significant increase, priced at VND 53,253,200 (buy) and VND 54,906,529 (sell), as of 08:40 on October 20.
Globally, silver prices dropped to $52.12 per ounce.
Global silver prices fell over 4%, retreating from the record high of $54.2, as risk sentiment improved and investors returned to stocks. This shift followed President Donald Trump’s efforts to ease concerns about the U.S.-China trade war.
Despite the weekend’s sharp decline, silver still rose more than 3% for the week, marking its ninth consecutive weekly gain. Early in the week, markets were rattled by turmoil in U.S. regional banks, which revealed lending fraud issues, sparking fears about financial stability.
Precious metals analyst Christopher Lewis described this as a natural correction after a prolonged rally, warning of heightened risks for investors chasing the uptrend.
Broader support for silver stems from geopolitical tensions, concerns over U.S. public debt and government spending, and expectations of further Federal Reserve rate cuts, all driving safe-haven demand.
Meanwhile, a liquidity crisis in London’s silver market has triggered a global physical supply scramble, while strong Indian demand has further tightened the market, causing some mutual funds to halt inflows into silver ETFs.
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