After a period of strong increase, silver prices at many domestic brands turned down. The market cooled down, making a part of buyers more cautious, especially those who have bought silver at high prices.
Buyers consider before price fluctuations
Ms. Do Thi Huong (Dong Anh commune, Hanoi) said that she started buying silver from the beginning of this year and is holding about 5kg of silver. According to her, after a period of sharp increase in silver prices, she has become more cautious in her decision to buy more.
At one point, I bought silver for about 80 million VND/kg. Currently, the selling price is only around 59 - 60 million VND/kg, so I also have to consider more carefully. Before, seeing the price continuously increase, I had the psychology of wanting to buy more because I was afraid the price would continue to rise, but now I will monitor more" - Ms. Huong said.
According to Ms. Huong, the decrease in silver prices may be a time to consider buying more, but she does not want to spend a large amount of money in one go.
If I buy more, I will buy little by little, instead of depositing a large amount of money at the same time. I want to monitor further price movements before deciding" - Ms. Huong said.
Meanwhile, Mr. Bui Thai Minh (Vinh Thanh commune, Hanoi) has just started to learn about silver but has not decided to buy it yet. He said that the high price increase in the past time is one of the reasons why he has to consider.
Silver prices are increasing rapidly, so I don't want to buy immediately. Currently, when prices decrease, I am more interested but still want to follow for a few more sessions" - Mr. Minh said.
According to Mr. Minh, what he is interested in is not only how much silver prices will decrease but also the developments in the following sessions.
In the opposite direction, Ms. Le Thu Trang (Dong Anh commune, Hanoi) shared that she is still interested in buying silver, but more cautious when prices fluctuate a lot. Instead of deciding immediately, she considers the quantity and appropriate time.
Previously, I still bought in batches, but recently the price has fluctuated quite strongly, so I consider more carefully. If the price decreases further or stabilizes at a suitable level, I can buy 2-3 taels of silver" - Ms. Trang said.
According to Ms. Trang, dividing the amount of money for each purchase helps her be more proactive and limits hasty decisions when silver prices fluctuate.
Silver price update
As of 9:15 am, the price of 999 silver (1 tael) of DOJI Jewelry Group Joint Stock Company was listed at the threshold of 2.211 - 2.290 million VND/tael (buying - selling); down 96,000 VND/tael on the buying side and 92,000 VND/tael on the selling side compared to yesterday morning (September 23).
At the same time, the price of 999 silver bars (1 tael) at Phu Quy Jewelry Group was listed at the threshold of 2.186 - 2.254 million VND/tael (buying - selling); down 65,000 VND/tael on the buying side and 67,000 VND/tael on the selling side compared to yesterday morning.
The price of 999 silver ingots (1kg) at Phu Quy Jewelry Group is listed at 58.293 - 60.106 million VND/kg (buying - selling); down 1.733 million VND/kg on the buying side and 1.787 million VND/kg on the selling side compared to yesterday morning.
On the world market, as of 9:00 AM on September 24 (Vietnam time), the world silver price was listed at 63.82 USD/ounce, down 2.62 USD/ounce compared to yesterday morning.
The information in the article is for reference only, reflecting market developments at the time of recording and not an investment recommendation. Investors need to carefully consider their financial capacity, personal goals and related risks before making a decision to buy or sell silver.
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