At Ancarat Vietnam Joint Stock Company, silver prices continued to rise today, listed at VND 2,057,000 per tael (buy) and VND 2,117,000 per tael (sell) in Hanoi, an increase of VND 27,000 in both directions compared to the previous session. Over the past year, buyers have seen a profit of nearly 83%.
Meanwhile, 1kg 999 silver bars are priced at VND 53,974,000 per bar (buy) and VND 55,474,000 per bar (sell), updated at 8:50 AM on October 17th.
On the global market, silver is trading at $53.7 per ounce.
Silver traded around $53 per ounce on Thursday (October 16th), holding near record highs reached earlier in the week as a global supply crunch fueled a historic price rally.
The tightest squeeze occurred in the London market, where a short-term squeeze sent leasing rates soaring over 30% last week, pushing the cost of covering short positions to unsustainable levels. Demand from India further strained supplies, causing some mutual fund companies to halt inflows into their silver ETF programs.
Meanwhile, dovish remarks from Fed Chair Powell, who highlighted labor market weaknesses, bolstered bets on further U.S. rate cuts and boosted demand for precious metals.
The prolonged U.S. government shutdown, now in its third week, also fueled safe-haven flows. On the geopolitical front, tensions escalated after President Donald Trump confirmed that the U.S. is engaged in a prolonged trade war with China.
Official: No Personal Income Tax for Earnings Below 17 Million
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This is a monumental goal for Vietnam.
Vietnam Set to Launch First Retirement Urban Model in $10 Billion Mega Project
This marks the first time Vietnam will introduce this urban model.
Unlocking High-Tech Shipbuilding Partnerships Between Italian and Vietnamese Enterprises
On the morning of October 15th, at the Government Office, Deputy Prime Minister Tran Hong Ha received Italian Ambassador to Vietnam Marco della Seta and leaders of the Fincantieri shipbuilding group. The meeting focused on exploring investment and cooperation opportunities in high-tech shipbuilding within Vietnam.
European Businesses Optimistic About Vietnam’s Business Prospects
According to EuroCham, the Business Climate Index (BCI) for Q3 reached its highest level in three years, reflecting a surge in optimism among European businesses operating in Vietnam.
