In recent trading sessions, silver prices have continuously been under adjustment pressure as cautious sentiment increases in the precious metal market. The downward trend has caused many people who once stood aside to observe to start paying attention again, especially the group of customers who need to buy and stockpile.
According to Lao Dong reporters' records at some gold and silver business stores in Hanoi, the number of customers learning about silver products shows signs of being more active than the previous period. Many people said they are waiting for prices to fall to a reasonable level to spend money instead of buying according to the psychology of the crowd when prices rise sharply.
Mr. Nguyen Van An (Cau Giay, Hanoi) said that he has followed market developments and international experts' assessments of the downward trend of gold and silver prices this week.
Before that, I still observed and did not decide to buy because the price still had room to decrease. Today I saw that silver has adjusted to a lower zone, so I decided to buy a part to accumulate" - Mr. An said.
Meanwhile, Mr. Nguyen Tien Dung (Van Mieu, Hanoi) said that he used to buy silver at high prices of about 110 million VND/kg. When the price dropped sharply, he chose to buy more to rebalance the cost of goods sold.
I identify silver as a long-term investment, so when the price drops deeply, this is a suitable time to buy more, instead of just waiting for the price to return to the old level" - Mr. Dung shared.
Brands launch new products to attract customers
In the context of bottom-fishing buying power reappearing, gold, silver and gemstone businesses are recently promoting new product introduction activities to meet the diverse needs of customers.
In addition to popular silver products for storage purposes, some brands focus on developing silver lines with design elements and cultural symbols to expand the customer group interested in silver as a product that is both materially valuable and collectible.
Talking to Lao Dong reporters, Phu Quy Jewelry Group's media said that this unit is expected to launch the silver product "Wind Horse Carrying the Wish Pearl", made from pure 999 silver, aimed at customers interested in silver products bearing the imprint of Eastern culture.
The product is designed with two sides including the image of Linh Phu (Ma Phuong) - Bat Quai and Wind Horse carrying Ngoc Nhu Y, inspired by symbols in Eastern culture and Diamond Fruit Buddhism" - Phu Quy media said.
Previously, the physical silver market also had a new product when DOJI Gold and Gems Group launched the Ngan Bao DOJI line. This enterprise introduced two products including Ngan Bao Ha (1 tael) and Ngan Bao Lam (5 taels), using pure 999 silver, aiming to meet the cash accumulation needs of customers.
The fact that businesses continuously launch new products takes place at a time when the silver market is in turmoil. When prices adjust strongly, besides the group of customers looking for opportunities to buy in, a part of consumers is also more interested in silver products with unique designs, suitable for collection or as gifts.
The liquidity of the silver market may continue to depend on world price movements, the strength of the USD as well as investors' expectations about the trend of precious metals in the coming time.
