Silver prices fall sharply, people jostle to catch the bottom

According to Lao Dong reporters' records on January 22, right from the early morning, many silver business stores in Hanoi were packed with customers. The trading atmosphere was bustling as people took advantage of "watching" when prices hit the bottom to buy.

At a silver business store on Xa Dan street (Hanoi), a long line of people stood in line waiting for their turn to transact.

Employees of this store said that on the night of January 21, world silver prices fell sharply, leading to a plunge in domestic prices right after the opening of this morning's trading session. This information caused the number of customers flocking to buy silver to increase sharply compared to previous days.

Ms. Nguyen Thi Lan (Hai Ba Trung, Hanoi) said that she was present at the store from more than 8:00 am after seeing silver prices fall deeply. “I have been monitoring silver prices for the past few days, seeing that last night the world decreased sharply, so I went to buy this morning. I don't know what the bottom is, but such a price decrease is the bottom for me.

When I got there, I saw a lot of people, having to queue for quite a long time. The store today continued to make a promise, 70 days later they will receive the silver" - Ms. Lan said.

According to records, in the morning, many stores continuously had customers coming in and out, and employees worked at full capacity. At some times, the store had to issue order numbers to customers to ensure transaction order.

However, not everyone can buy silver at the lowest price of the day. Mr. Tran Van Minh (Dong Da, Hanoi) said that because he was busy, he came to the store near noon and the price of silver had begun to recover.

In the morning, I saw friends say prices were falling deeply but I couldn't go. By noon, when I went to the store, the price had increased quite a bit compared to the morning. Even so, I still bought because I thought silver still had potential in the long term" - Mr. Minh shared.

According to stores, the sharp increase in demand for silver in recent days mainly comes from the bottom-fishing and asset accumulation psychology of people in the context of strong price fluctuations. At times, the large concentration of customers caused transactions to take place slower than usual.

People come to trade buying and selling gold and silver intertwined, creating a bustling scene in many streets trading in precious metals. A store employee said that when prices fluctuate sharply, both silver and gold attract great attention from people. "Guests come to ask for prices, buying and selling continuously from morning to noon. At times, the store is almost empty" - this person said.

According to store forecasts, in the coming days, if silver prices continue to fluctuate strongly, the domestic market will still witness vibrant trading, especially at times when prices fall deeply.