Recorded on May 15, at some silver business stores in Ho Chi Minh City, the number of customers coming to trade increased slightly after silver prices fluctuated sharply. If previously the market mainly recorded buying power to welcome the price increase wave, now, many investors have started to take profits when silver fluctuates in a short time.
Mr. Nguyen Van Thai (resident of Cho Lon ward) said that he took advantage of selling part of the silver accumulated after the price increased sharply in a short time. "I bought silver last year for long-term investment purposes. When I saw the price increase in just over a week, I decided to take profits in part to reduce risks" - Mr. Thai said.
Meanwhile, Ms. Nguyen Phuong (Nheu Loc ward) said she will continue to monitor the market to wait for an opportunity to buy if the price adjusts deeper. "Currently, the price of silver is constantly fluctuating, so I am not in a hurry to buy more. However, compared to the time of purchase, I have made a profit, so now I sell a little. If the price falls to a more reasonable level, I will consider accumulating more" - Ms. Phuong shared.
Representatives of some stores said that selling pressure tends to increase slightly, especially from the short-term investment customer group. However, the market has not seen a sell-off situation because many people still expect silver prices to have room to increase.
Talking to Lao Dong Newspaper, gold expert Tran Duy Phuong - Director of Golden Fund Jewelry Company said that the silver market has always fluctuated very strongly. Usually, silver and gold tend to fluctuate in the same direction, but the fluctuation of silver is always greater than gold, possibly 2-3 times higher.
Silver prices increased very strongly last week, with a period of increasing by about 18-19% in just one week. The main reason comes from market expectations that the US business delegation's visit to China will open up more economic and technological cooperation agreements between the two countries.
Silver is currently being used a lot in technology fields such as chip manufacturing, AI, energy batteries and many other industries. The participation of many major US technology CEOs in this trip makes the market expect silver demand to increase sharply in the near future, thereby boosting purchasing power in the market.
However, after a hot increase, silver prices in the past two days have also adjusted down by about 8-9%. This shows that the silver market is still fluctuating very strongly in the short term.
However, I think silver still has room to continue to increase because the current price is still considered relatively soft compared to gold, while the profit potential is higher. In addition to investment factors, the demand for silver in industry and technology is increasing rapidly, so the overall outlook for silver this year is still positive. This can still be a noteworthy investment channel.
However, for any investment channel, when a good profit level has been achieved, investors should also consider taking partial profits. If the silver price adjusts to below 80 million VND/kg, especially about 70-75 million VND/kg, this is still a suitable price range for long-term investment accumulation" - Mr. Phuong said.
Investors should not pour all capital into gold or silver but need to divide the portfolio to reduce risks. About 50% can be allocated to gold and silver, and the rest is deposited in savings. In the current context, depositing in savings is still the safest and most stable channel because it ensures a solid yield, while investing in gold or silver still depends heavily on market expectations.
