Domestic silver prices have continuously fluctuated recently, causing silver buyers to accumulate to tend to be more cautious and carefully consider before each deposit.
Buyers cautious when silver prices fluctuate
Ms. Nguyen Bao Chau (Dong Anh commune, Hanoi) said that at the beginning of this year, she started buying silver with the aim of accumulating a part of her idle money. Instead of buying once for a large amount of money, she divided the amount of money and bought in installments.
After buying silver, Ms. Chau still regularly monitors prices. Recent fluctuations in silver prices have made her more cautious, especially when considering the difference between buying and selling prices. According to her, this is a factor to consider if she has to sell silver in a short time.
Initially, I bought with the thought of saving for a long time, buying a little each time, so I didn't pay too much attention to fluctuations during the day. Recently, silver prices have continuously fluctuated, plus the difference between buying and selling prices, so I am more cautious, and have no intention of buying more immediately" - Ms. Chau said.
Faced with the continuous fluctuation of silver prices, Ms. Chau said that she will not buy more silver immediately but will wait to monitor further. The amount planned to buy silver may be transferred by her to another asset if she finds it suitable.
Now if I have some idle money, I won't put it all in cash. I want to monitor prices further, and consider other assets that are suitable for my financial capacity" - Ms. Chau shared.
Meanwhile, Mr. Nguyen The Huy (Vinh Thanh commune, Hanoi) said that he bought a total of 15 taels of silver from the beginning of the year to accumulate. He divided it into many waves of buying silver, in which at one point the price was about 3.3 million VND/tael, and at one point it increased to about 3.9 million VND/tael.
After the price fluctuations, Mr. Huy said that he does not want to buy more yet but will monitor the market. "I buy silver to accumulate, so I am not too concerned about daily fluctuations. However, when prices fluctuate continuously, I will be more cautious and not rush to buy more" - Mr. Huy shared.
According to Mr. Huy, he still keeps the silver he bought and has not disbursed the additional amount planned for buying silver. If the price continues to fluctuate, he is likely to transfer part of this amount to another asset for accumulation.
I want to monitor further. If the price is stable at an appropriate level, I will consider buying again" - Mr. Huy said.
Silver price update
As of 11:25 am on September 16, the price of 999 silver bars (1 tael) at Phu Quy Jewelry Group was listed at the threshold of 2,207 - 2,275 million VND/tael (buying - selling), an increase of 20,000 VND/tael in both directions compared to yesterday morning.
The price of 999 silver ingots (1kg) at Phu Quy Jewelry Group is listed at 58.853 - 60.666 million VND/kg (buying - selling), an increase of 534,000 VND/kg on the buying side and 533,000 VND/kg on the selling side compared to yesterday morning.
At the same time, the price of 999 silver (1 tael) of DOJI Jewelry Group Joint Stock Company was listed at the threshold of 2.259 - 2.359 million VND/tael (buying - selling).
On the world market, as of 9:25 am on September 16 (Vietnam time), the world silver price was listed at 63.86 USD/ounce, up 0.36 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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