Record high silver price, people rush to sell to make a profit

Khương Duy |

Silver prices have just recorded their highest level in many years, many people took advantage of taking profits. Shops in Hanoi were crowded with people coming to do business.

Spot silver prices on the international market have surpassed 35.9 USD/ounce, the highest level since 2011. This strong increase is said to be due to increased physical investment demand, along with inflation expectations and geopolitical fluctuations in the world. In Vietnam, silver prices also climbed to over 1.4 million VND/tael, up nearly 30% compared to the beginning of the year.

Mr. Nguyen Van Anh (Nam Tu Liem - Hanoi) shared: "In the past, I had a idle amount of money, planning to buy gold. However, because it was difficult to buy gold, I switched to buying silver. The time I bought silver was 33.5 million VND/kg. Seeing the price increase too high, I decided to sell to make a profit, so that when the price turns to decrease, I will not regret it.

Khong khi giao dich tap nap tai mot cua hang tai Cau Giay (Ha Noi) khi gia bac lap dinh nhieu nam. Anh: Phan Anh
The bustling transaction atmosphere at a store in Cau Giay (Hanoi) when silver prices have reached a multi-year peak. Photo: Phan Anh

Meanwhile, Mr. Phan Van An (Cau Giay - Hanoi) said that he has been selling less silver in the past three days as prices have increased: "I have about 15kg of silver. For the past three days, when silver prices increased, I sold a portion every day, and now I still have about 6kg.

I thought that the price of silver could increase further, so I did not sell all. At the time I bought it, the price was 32.5 million VND/kg. By the afternoon of June 9, they had sold 36.5 million VND/kg, equivalent to a profit of 4 million VND/kg. If we compare, it would be like saving 100 million VND for the whole year" - Mr. An said.

Gia bac tang cao, nhieu nguoi tan dung co hoi chot loi. Anh: Phan Anh
The price of silver has increased, many sellers have taken profits. Photo: Phan Anh

Ms. Nguyen Thi Huong (an employee of a jewelry store on Cau Giay - Hanoi) shared: "Since last weekend, the number of people bringing silver to sell has doubled every day. Many buyers have been saving for a few years now, now the price is too high, so they take advantage of selling to make a profit".

Not only long-term investors, some people also take advantage of short-term "surfing" when they see a clear upward trend. Jewelry, raw silver, and even used silver are also being sold on the market.

Analysts said that although the trend of increasing silver prices still has potential, small investors need to be cautious, avoiding the psychology of "going to the top" when prices have increased too quickly in a short time. Reasonable portfolio allocation, market monitoring and information updates are key factors to limit risks in the current period of strong price fluctuations.

Domestic silver price developments

Domestic silver prices continued to increase early this morning. As of 8:45 a.m. on June 10, the price of 999 silver bars at Phu Quy Jewelry Group was listed at VND1.378 - 1.421 million/tael (buy - sell). The price of 999 gold bars at Phu Quy Jewelry Group was listed at 1.378 - 1.421 million VND/tael (buy - sell).

At the same time, the price of 999 taels (1kg) at Phu Quy Jewelry Group was listed at 36.746-37.893 million VND/kg (buy in - sell out).

Khương Duy
TIN LIÊN QUAN

Silver price breaks out, experts say there is still room for increase

|

Silver prices have increased sharply, experts say that this metal still has room to break out. With increasingly scarce supply, silver continues to be considered an attractive investment channel.

Silver price fluctuations 9.6: World silver continues to stay strong

|

Silver price fluctuations 9.6: Domestic silver prices adjusted down slightly, while the world market continued to maintain a strong increase.

Silver price fluctuations 8.6: Huge profits after two months

|

Silver price fluctuations 8.6: After two months of buying silver, domestic investors earned nearly 3.5 million VND/kg.

Principal is confused because he is asked to cut down on the number of emulation fighters

|

Nghe An - The number of grassroots emulation fighters has increased but the reward fund has not changed, causing many schools to cut in a passive and stressful situation.

National mourning coat after a dark day in history

|

The national funeral shirt was issued 3 days after the shocking school shooting that killed 11 people.

Live football Argentina 0-1 Colombia: End of the first half

|

Live football Argentina vs Colombia in the 2026 World Cup qualifiers, taking place at 7:00 a.m. on June 11 (Vietnam time).

Major General Dao Van Nhan takes over the duties of Commander of the Hanoi Capital Command

|

Major General Dao Van Nhan - Deputy Commander and Chief of Staff of the Hanoi Capital Command - was assigned to take on the duties of Commander of the Hanoi Capital Command.

finalizing the plan to pay subsidies to teachers in disadvantaged areas in Quang Binh

|

Quang Binh - Minh Hoa District has agreed on a payment plan and is preparing to issue a notice to handle problems with allowances for disadvantaged areas.

Silver price breaks out, experts say there is still room for increase

Phương Anh |

Silver prices have increased sharply, experts say that this metal still has room to break out. With increasingly scarce supply, silver continues to be considered an attractive investment channel.

Silver price fluctuations 9.6: World silver continues to stay strong

Phương Anh |

Silver price fluctuations 9.6: Domestic silver prices adjusted down slightly, while the world market continued to maintain a strong increase.

Silver price fluctuations 8.6: Huge profits after two months

Phương Anh |

Silver price fluctuations 8.6: After two months of buying silver, domestic investors earned nearly 3.5 million VND/kg.