Speaking at the second session of the seminar “Double-Digit Economic Growth Drivers and Investment Opportunities in 2026” during the Fchoice 2025 Awards Ceremony, Mr. Dinh Ngoc Dung – Chairman and CEO of Bao Tin Capital, likened silver to “the younger sibling” of gold – more agile and volatile.
“Silver can be likened to the ‘younger sibling’ of gold, and the younger sibling in a family is often more agile and active. This can be seen as a playful, ‘spiritual’ explanation for why silver prices tend to fluctuate more dramatically and quickly than gold,” Mr. Dung remarked.
According to him, 2025 saw an unprecedented surge in silver prices. Within a year, the metal soared by over 170%, from $29/ounce to nearly $80/ounce by year-end. Currently, silver prices hover around $84–85/ounce.
Explaining this surge, Mr. Dinh Ngoc Dung cited global geopolitical tensions as a key driver. In 2025, escalating conflicts and hotspots across Asia and South America made gold and silver safe-haven assets not only for individual investors but also for large institutions and central banks.
He noted that central banks purchased thousands of tons of gold and precious metals last year. China also announced plans to increase its reserve allocation for these assets from 5% to 10% between 2026–2030, highlighting the high demand for precious metals.
Additionally, monetary policy played a crucial role. The Federal Reserve’s easing and rate cuts fueled silver’s rally as global capital sought safe-haven and alternative investments.
Mr. Dinh Ngoc Dung emphasized silver’s unique role in industrial production. Amid the current high-tech wave – including semiconductors, solar energy, electric vehicles, and green industries – silver is an indispensable raw material. “Thus, alongside jewelry demand, the significant industrial demand has propelled silver prices to soar like ‘Thánh Gióng’ in recent times,” Mr. Dung added.
However, he cautioned that rapid price increases also heighten risks. After such a sharp rise, significant corrections are likely, especially if capital shifts to more attractive investment channels.
Silver is also highly sensitive to policy shocks. He cited CME Group’s margin hike in late 2025, which caused a 10% single-day drop in silver prices, illustrating the market’s extreme volatility.
Another risk lies in storage. While gold worth approximately $7,000 fits into a small piece, silver investors must deal in kilograms. The larger physical volume introduces storage risks and inconveniences.
Therefore, Mr. Dinh Ngoc Dung advised investors to carefully weigh opportunities and risks when investing in silver. Balancing capital allocation allows them to capitalize on the metal’s growth while ensuring portfolio safety.
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