Domestic silver prices
As of 9:40 am on February 26, the price of silver bars 2024 Ancarat 999 (1 tael) at Ancarat Gem Company was listed at 3.318 - 3.400 million VND/tael (buying - selling); down 3,000 VND/tael in both directions compared to yesterday morning.
The price of 2025 Ancarat 999 (1kg) silver ingots at Ancarat Gem Company is listed at 87.506 - 90.166 million VND/kg (buying - selling); down 80,000 VND/kg in both directions 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 3.462 - 3.564 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 3.321 - 3.424 million VND/tael (buying - selling); down 11,000 VND/tael in both buying and selling directions compared to yesterday morning.
The price of 999 silver ingots (1kg) at Phu Quy Jewelry Group is listed at 88.559 - 91.306 million VND/kg (buying - selling); down 294,000 VND/kg on the buying side and down 293,000 VND/kg on the selling side compared to yesterday morning.
World silver price
On the world market, as of 9:35 am on February 26 (Vietnam time), the world silver price was listed at 88.05 USD/ounce; down 1.06 USD compared to yesterday morning.
Causes and forecasts
Silver prices reversed down in the context of increased selling pressure after a large-scale liquidation wave in China, as debt positions were forced to close after an excessive speculative period.
This move took place in the context of the Shanghai Futures Exchange tightening delivery regulations, even cutting delivery allocations to 0 for many investors without approved risk hedging quotas.
Akhtar Faruqui - a foreign exchange analyst at FXStreet - said that this tightening of trading conditions has made the market more volatile, especially when retail speculation in China reversed sharply.
Besides, silver - valued in USD - is also under pressure from the appreciation of the greenback. As the USD strengthens, silver becomes more expensive for investors holding other currencies, thereby weakening demand" - Akhtar Faruqui said.
He added that downward pressure also comes from industrial demand. Solar panel manufacturers are actively replacing silver with copper to cut costs, amid rising metal prices. This is happening even though the silver market is entering its sixth consecutive year of structural supply shortages.
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