The Silver Investment Boom in Vietnam

On August 23, Nguyen Van Hau from Cau Giay, Hanoi, decided to sell 100 taels of silver that he had purchased four months earlier (early April 2025). “It took just two hours of posting on social groups to sell all 100 taels of silver at the web/2 price (the average of the listed selling and buying prices, commonly used for private transactions) of 1.52 million VND per tael,” Hau shared. After four months, Hau made a profit of 29.8 million VND, equivalent to more than 24%.

Investors are increasingly interested in silver

For those who joined the game later, like Minh Ngoc from Ha Dong, Hanoi, who bought silver at 1.43 million VND per tael on June 28, the profit so far (based on the selling price) is about 6.9%. However, Ngoc has no intention of selling and wants to accumulate it for the long term.

Silver, once considered an industrial and jewelry-making metal, has become an attractive investment channel in the past year. On August 27, the price of 999-fine silver ingots at Phu Quy Group, the largest silver product distributor in the market, was recorded at 1.52 million VND per tael (selling price) and 1.484 million VND per tael (buying price). This price is close to the record high of 1.546 million VND per tael on July 25. Compared to SJC gold bars, which currently trade above 127 million VND per tael, silver is much more accessible.

According to Phu Quy, the number of people choosing to invest in silver is growing. Sales of silver bullion for accumulation at this unit have continuously increased, with some new products selling out shortly after launch.

For example, when the company released 8,000 five-tael silver ingots commemorating the 80th National Day earlier this month, more than two tons of silver were ordered within eight hours. A similar situation occurred with the 2,000 silver ingots commemorating the 50th anniversary of the Liberation of the South and the National Reunification.

“During peak periods, customers will have to place orders and make advance payments and wait for an appointment to receive the products due to high demand,” the representative shared.

Another shift observed by traders is that more older people are showing interest in this product, whereas most customers were young a year ago.

Why Silver?

An important reason is pricing. Currently, one tael of gold is equivalent to about 84 taels of silver, much higher than the historical average of 65-70. This indicates that silver is undervalued and has significant growth potential.

The current price of silver, at around 1.5 million VND per tael, is also considered accessible for those who prefer to invest small amounts and accumulate over time, as opposed to the price of gold, which is approximately 127 million VND per tael.

Another critical factor is silver’s increasing liquidity. With low prices, a growing network of agents, and convenient over-the-counter transactions, silver hoarding is becoming more feasible. There have been instances of long queues for gold purchases, while silver is mostly readily available.

Notably, international capital is also boosting the silver market. Silver ETFs bought more than 300 tons in June, double the previous month. The participation of large institutional investors indicates that silver is not only a short-term choice for individuals but is gradually becoming a significant accumulation channel in the global portfolio.

A Promising Investment Channel

According to Hoang Long, who manages an investment group with over 100,000 silver investors, silver is suitable for medium and long-term accumulation strategies of six months, one year, or longer. The price increase since the beginning of 2025 has been nearly 40%, demonstrating a positive trend. Long emphasized that the $37.50/ounce level on the international market is a strong support zone, while resistance is at the $39-40/ounce range. If it breaks through the $40 level, silver prices could enter a new upward cycle.

Compared to gold, silver has the advantage of a softer price, making it affordable for most individual investors. Buyers do not need to accumulate a large amount of capital to participate in the precious metals market, while the potential for profit has been evident. Easy liquidity, favorable profit margins, and expanding industrial prospects further solidify silver’s position.

Another narrative among investors is that even when silver reached nearly $40/ounce in July, it was still far from its all-time high of $50/ounce in 2011, while gold has broken its record more than 30 times since 2011.

From practical investment stories to macroeconomic factors, silver has proven that it is no longer just a secondary metal. As gold becomes increasingly expensive and scarce, silver emerges as a safe and promising investment channel. With the trend of accumulation and growing demand, the silver market is expected to continue attracting new investors, affirming its increasingly important role in Vietnam’s investment landscape.