On November 8-11, Sacombank Jewelry Company (SBJ) listed the buying price of silver bars at approximately 1,854,000 VND per tael, with a selling price of 1,902,000 VND per tael, marking an increase of about 18,000 VND per tael compared to the previous day.
Phú Quý Group purchased various types of silver bars at 1,851,000 VND and sold them at 1,908,000 VND per tael, reflecting a 4,000 VND increase per tael.
Other brands like Ancarat and Golden Fun offered 1-tael silver bars ranging from 1,861,000 to 1,899,000 VND per tael.
Despite recent recoveries, silver prices remain at their lowest in the past month. From the historical peak of 2,145,000 VND per tael, silver has lost over 240,000 VND (12.7%) per tael.
Today’s silver price increase still leaves it at the lowest level in a month.
In the international market, silver closed the week at 48.35 USD per ounce, a 0.58% increase from the previous session. Global silver prices have rebounded significantly from the low of 45.5 USD per ounce but remain about 12.7% lower.
Notably, domestic silver trading demand has cooled considerably. Unlike before, there are no longer long queues at silver trading companies.
In its latest update, SBJ announced the resumption of “cash-and-carry” sales for 1-tael silver bars. Daily, 100 customers at SBJ’s Ho Chi Minh City stores can purchase up to 10 taels. Previously, SBJ only accepted online orders with advance payment and delivery times ranging from 1 to 6 months.
Phú Quý Company has not yet reopened in-store silver sales, primarily accepting online orders with advance payment.
Currently, the global silver price converted at the listed exchange rate is approximately 1,530,000 VND per tael.
Silver prices are approximately 12% lower than mid-October peaks.
