According to data from Phu Quy Jewelry Joint Stock Company, silver prices have decreased today. Specifically, 999 silver (1 tael) is listed at VND 1,814,000 per tael (buy) and VND 1,870,000 per tael (sell). Silver prices experienced unpredictable fluctuations over the past week, plummeting on October 28th, surging above VND 1.9 million per tael on October 29th, and then declining again in today’s session.
Meanwhile, 999 silver bars (1 kg) also saw a decrease, priced at VND 48,373,212 per bar (buy) and VND 49,866,542 per bar (sell), updated at 09:08 on October 30th.
Globally, silver is trading at $47.5 USD per ounce.
During the October 29th session, silver prices spiked above $48 USD per ounce, recovering from a one-month low as technical buying activity responded to new policy developments, before retreating again.
The Federal Reserve cut interest rates by 25 basis points to a target range of 3.75% to 4.00% and signaled the end of balance sheet reduction after November, with securities runoff concluding on December 1st. This short-term rate cut and liquidity easing favor non-yielding metals.
The ongoing U.S. government shutdown has delayed key economic releases, heightening market sensitivity to each data point. Traders are also monitoring the meeting between President Donald Trump and President Xi Jinping for a potential trade framework that could pause new U.S. tariffs and China’s rare earth restrictions, which would curb safe-haven demand. Last week, silver fell over 6% due to profit-taking after a record rally, contributing to the current technical rebound.
Silver Price Today, October 29: A Sharp Upturn in the Market
Silver prices surged today, mirroring the global uptrend, with Phu Quy silver reaching 1,875,000 VND and breaking the consecutive decline of recent days.
Silver Prices Continue Downward Trend
Today’s silver prices, both domestically and globally, continue to decline.
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