Domestic silver price
As of 12:50 on May 2, the price of 999 silver bars at Phu Quy Jewelry Group was listed at 1.252 - 1.291 million VND/tael (buy - sell); an increase of 5,000 VND/tael for both buying and selling compared to early this morning.
At the same time, the price of 999 taels of silver at Phu Quy Jewelry Group was listed at 1.252 - 1.291 million VND/tael (buy - sell); an increase of 5,000 VND/tael for both buying and selling compared to early this morning.
The price of 999 (1kilo) gold bars at Phu Quy Jewelry Group was listed at 33.386 - 34.426 million VND/kg (buy - sell); an increase of 133,000 VND/kg in both buying and selling directions compared to early this morning.
World silver price
On the world market, as of 12:35 on 2.52 (Vietnam time), the world silver price listed on Goldprice.org was at 32.61 USD/ounce; up 0.27 USD compared to early this morning.
Causes and predictions
Silver prices suddenly reversed and increased in today's trading session. According to a survey by 29 traders and analysts at Reuters, the average spot silver price is forecast to reach 33.10 USD/ounce by 2025.
In addition, analysts have adjusted the 2026 silver price forecast from 33.45 USD/ounce to 34.58 USD/ounce. They also expect that this metal will be supported by the supply-demand deficit and the global clean energy transition.
Although industrial demand is currently affected by the surplus of solar panels, the situation will improve soon, said StoneX analyst Rhona OConnell.
Demand from the auto industry and artificial intelligence will also help maintain a shortage of supply compared to demand. This is expected to continue to increase in 2026".
So far, silver prices have risen only 12% in 2025, much lower than gold's growth. According to Reuters, this increase is mainly due to slowing industrial demand (currently accounting for more than half of total demand) and a lack of investment interest from central banks.
See more news related to silver prices HERE...
