Domestic silver prices
As of 9:10 am on January 29, the price of 2024 Ancarat 999 silver bars (1 tael) at Ancarat Jewelry Company was listed at 4.409 - 4.517 million VND/tael (buying - selling); an increase of 121,000 VND/tael on the buying side and an increase of 124,000 VND/tael on the selling side compared to yesterday morning.
The price of 2025 Ancarat 999 (1kg) in Ancarat Jewelry Company is listed at the threshold of 116.414 - 119.954 million VND/kg (buying - selling); an increase of 3.208 million VND/kg on the buying side and an increase of 3.308 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 Bank Jewelry Company Limited (Sacombank-SBJ) is listed at the threshold of 4.536 - 4.650 million VND/tael (buying - selling); an increase of 180,000 VND/tael on the buying side and an increase of 183,000 VND/tael on the selling side compared to yesterday morning.
At the same time, the price of 999 silver bars (1 tael) at Phu Quy Jewelry Group was listed at the threshold of 4.390 - 4.526 million VND/tael (buying - selling); an increase of 109,000 VND/tael on the buying side and an increase of 113,000 VND/tael on the selling side compared to yesterday morning.
The price of 999 silver bars (1kg) at Phu Quy Jewelry Group is listed at the threshold of 117.066 - 120.693 million VND/kg (buying - selling); an increase of 2.907 million VND/kg on the buying side and an increase of 3.014 million VND/kg on the selling side compared to yesterday morning.
World silver prices
On the world market, as of 9:20 am on January 29 (Vietnam time), the world silver price was listed at 117.15 USD/ounce; up 3.21 USD compared to yesterday morning.
Causes and forecasts
Silver prices continued to increase sharply in the mid-week trading session, raising the increase in this month alone to about 60%. The rapid escalation of this precious metal is attracting great interest from investors and production businesses dependent on silver as input materials.
Throughout the past year, silver prices have continuously increased sharply. In 2025, the price of this metal has more than doubled before continuing to accelerate right from the first weeks of this year. Notably, silver prices first exceeded the 100 USD/ounce mark last week and continuously set new records in recent days.
The increase in silver is even more prominent than other precious metals. Gold prices - which are considered traditional "hideouts" - have also almost doubled in the past year, exceeding 5,400 USD/ounce in the recent trading session.
Current silver price movements show a strong upward trend, even more sensitive than gold" - Citi Bank analysts said.
This bank recently raised its silver price forecast to 150 USD/ounce in the next three months.
In addition, according to Ms. Anna Rathbun - CEO of Grenadilla Advisory, silver is playing an increasingly important role in the field of artificial intelligence (AI).
Thanks to its superior conductivity, this metal is considered increasingly valuable for AI infrastructure. This trend also contributes to pushing up prices of other industrial metals such as copper sharply, with prices for the first time exceeding 13,000 USD/ton this month" - Ms. Anna Rathbun said.
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