Domestic silver prices
As of 9:20 am on February 25, the price of silver bars 2024 Ancarat 999 (1 tael) at Ancarat Gem Company was listed at the threshold of 3.321 - 3.403 million VND/tael (buying - selling); an increase of 56,000 VND/tael on the buying side and an increase of 58,000 VND/tael on the selling side compared to yesterday morning.
The price of silver ingots 2025 Ancarat 999 (1kg) at Ancarat Jewelry Company is listed at 87.586 - 90.246 million VND/kg (buying - selling); an increase of 1.506 million VND/kg on the buying side and an increase of 1.546 million VND/kg on the selling side compared to yesterday morning.
The price of Kim Phuc Loc 999 silver bars (1 tael) of Saigon Thuong Tin Commercial Joint Stock Company Limited (Sacombank-SBJ) is listed at 3.426 - 3.528 million VND/tael (buying - selling).
At the same time, the price of 999 silver bars (1 tael) at Phu Quy Jewelry Group was listed at the threshold of 3.332 - 3.435 million VND/tael (buying - selling); an increase of 64,000 VND/tael on the buying side and an increase of 66,000 VND/tael on the selling side compared to yesterday morning.
The price of 999 silver ingots (1kg) at Phu Quy Jewelry Group is listed at 88.853 - 91.599 million VND/kg (buying - selling); an increase of 1.707 million VND/kg on the buying side and an increase of 1.76 million VND/kg on the selling side compared to yesterday morning.
World silver price
On the world market, as of 9:30 am on February 25 (Vietnam time), the world silver price was listed at 89.11 USD/ounce; up 1.72 USD compared to yesterday morning.
Causes and forecasts
The silver market recorded an impressive increase in Wednesday's trading session, showing that buying power is trying to push prices up despite strong fluctuations in recent times.
According to precious metals analyst Christopher Lewis at FX Empire, the market is turning its attention to the 90 USD/ounce mark - an important psychological threshold.
He said that 90 USD/ounce is not only a symbolic round number but also the peak of the current accumulation phase. "If silver prices can close above this level in the daily trading session, the upward trend is likely to be strengthened, opening up prospects for reaching the 100 USD/ounce threshold - another important psychological milestone" - Mr. Christopher Lewis said.
Conversely, Mr. Christopher Lewis believes that short-term corrections can still occur. In this scenario, the 80 USD/ounce zone is considered the closest support. If the price breaks through the 80 USD/ounce zone, the market may fall deeper to 70 USD/ounce, which is considered the bottom of the current fluctuation range.
He also noted that the silver market has just gone through a period of severe volatility. The sharp drop in the candlestick a few weeks ago was assessed to have caused significant damage to many investment accounts, and may even affect some organizations.
In that context, a correction and re-accumulation are considered necessary to strengthen confidence and create a more solid foundation for the upward trend. In the short term, developments around the 90 USD/ounce threshold will play a decisive role in the next trend of the silver market" - Christopher Lewis said.
See more news related to silver prices HERE...
