Silver Price Today, June 2nd: Steady Start to the Week

Phú Quý Group, a leading precious metals company, reports that silver prices remain stable, trading at 1,267,000 VND per tael for buying and 1,306,000 VND per tael for selling in Hanoi today.

Meanwhile, the price of 1kg silver bars is quoted at 33,786,582 VND per bar for buying and 34,826,580 VND per bar for selling, as of 08:25 on June 2nd, 2025.

Globally, silver spot prices are hovering around the $33.099 per ounce mark, equivalent to 863,000 – 868,000 VND per ounce, according to a survey on May 26th.

FX Empire analysts suggest that silver prices are range-bound, stuck between the key technical levels of $32.70 and $33.70 per ounce.

A break above $33.70 could signal a bullish trend, with the next resistance levels at $34.59 and $34.87. Conversely, a close below $32.70 may lead to a bearish turn, with further support around $31.56.

James Hyerczyk, a market analyst at FX Empire, comments: “The market is lacking direction due to the uncertainty surrounding US trade policies, particularly the temporary restoration of some of Donald Trump’s tariffs. While inflationary pressures remain subdued, the risks of rising costs and weakening industrial demand persist.”

Given the current economic climate, Hyerczyk predicts that silver prices could continue to trade sideways. “A decisive move above $33.70 or below $32.70 would provide clearer direction. Until then, the trend is considered neutral, and prices could fluctuate based on trade developments or statements from the US Federal Reserve,” he adds.