Domestic silver prices
As of 10:50 am on January 3rd, the price of 2024 Ancarat 999 silver bars (1 tael) at Ancarat Jewelry Company was listed at 2,740 - 2,807 million VND/tael (buying - selling); down 33,000 VND/tael on the buying side and down 34,000 VND/tael on the selling side compared to yesterday morning.
The price of 2025 Ancarat 999 (1kg) in Ancarat Jewelry Company is listed at 72.164 - 74.354 million VND/kg (buying - selling); down 876,000 VND/kg on the buying side and down 906,000 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 2.793 - 2.868 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 2.738 - 2.823 million VND/tael (buying - selling); down 34,000 VND/tael on the buying side and down 35,000 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 73.013 - 75.279 million VND/kg (buying - selling); down 906,000 VND/kg on the buying side and down 934,000 VND/kg on the selling side compared to yesterday morning.
World silver prices
On the world market, as of 10:45 am on January 3 (Vietnam time), the world silver price was listed at 72.82 USD/ounce; down 0.51 USD compared to yesterday morning.
Causes and forecasts
Spot silver prices slightly adjusted in the last trading session of the week, as the market gradually calmed down after the previous period of strong fluctuations.
According to precious metal analyst James Hyerczyk at FX Empire, in the long term, silver continues to be supported by stable industrial demand and limited supply - factors that have been recorded in the past.
He added that expecting the US Federal Reserve (Fed) to cut interest rates also partly supports the market, although this factor is still speculative.
In fact, the Fed has only planned one interest rate cut in 2026 and has repeatedly emphasized that the decision will depend on economic data. The December 2025 meeting also showed opposing views within the Fed, as policymakers have not agreed on whether to prioritize stabilizing the labor market or curbing inflation," James Hyerczyk said.
In the short term, the silver market is strongly affected by the Chicago Mercantile Exchange (CME)'s decision to raise margins. In just one week, CME has twice increased margins for silver and gold futures contracts to cope with fluctuations that this exchange considers "unusual".
According to James Hyerczyk, this move caused transaction costs to skyrocket, forcing many investors with limited capital to close positions, thereby increasing price fluctuations in a very short time.
This situation may continue in the next few weeks, as the sell-off wave from speculators continues. In this period, macroeconomic factors such as the Fed's monetary policy, US bond yields or the fluctuations of the USD may temporarily no longer be the focus. Only when the market stabilizes will these fundamental factors play a leading role" - James Hyerczyk said.
See more news related to silver prices HERE...
