According to data from Phu Quy Jewelry Corporation, silver prices surged today. One tael of 999 silver is listed at VND 3,122,000 (buy) and VND 3,219,000 (sell). In contrast to last week’s sharp decline, silver prices have consistently risen this week, reaching new highs.
Meanwhile, one kilogram of 999 silver bars is priced at VND 83,253,125 (buy) and VND 85,839,785 (sell), updated at 09:10 on January 12th.
Globally, silver prices jumped to $82.9 per ounce. Last week, silver experienced a significant correction, dropping nearly 10% to around $74 per ounce. However, demand quickly rebounded, driving prices upward in recent sessions.
Analysts attribute last week’s correction primarily to profit-taking after a prolonged rally, especially given that silver prices rose approximately 170% in 2025.
Silver reached a new record high as expectations of U.S. rate cuts and geopolitical tensions boosted demand for safe-haven assets.
Investors closely monitored nationwide protests in Iran, now in their third week, reportedly resulting in hundreds of fatalities. U.S. President Donald Trump warned Iranian leaders against using force on protesters and signaled potential U.S. action if Tehran violently suppresses demonstrations. Iranian officials countered with warnings against U.S. or Israeli interference.
Markets also considered the Federal Reserve’s potential rate cuts after monthly job reports showed weaker-than-expected employment growth. Traders continue to bet on two Fed rate cuts this year, despite widespread expectations of policy stability later this month.
According to Businesstimes, silver entered 2026 with significant volatility but structural importance, following one of its strongest rallies in decades.
The AI boom marked a clear structural shift, with prices driven by prolonged supply shortages, declining inventories, and surging demand from renewable energy, electronics, and emerging AI applications.
Unlike previous speculative cycles, the 2025 rally was anchored by physical supply scarcity, evident in high premiums across Asian markets and increasing pressure on deliverable inventories.
Additionally, expectations of U.S. rate cuts, a weaker dollar, and recurring geopolitical hotspots enhanced silver’s appeal as both an industrial metal and a defensive asset.
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