Lao Dong reporter's records on February 5 show that domestic silver bar and silver bar prices simultaneously decreased sharply. At many silver trading stores in Hanoi, people's buying demand is high while selling volume is limited, making transactions difficult.
On Tran Nhan Tong street (Hanoi), many silver shops announced the temporary suspension of sales, only accepting silver payments with pre-arranged invoices. However, people still came early to wait to buy, but most had to leave because they could not buy goods.
Ms. Nguyen Mai Huong (Hoan Kiem ward, Hanoi) - a customer coming to buy silver - said: "For many days now, gold and silver stores have announced to limit the quantity sold or temporarily stop accepting customers to buy. For silver, I bought 10 taels from the end of last year, the store promised to come in April 2026 to get it. Now the price has dropped sharply, I returned to buy more but they did not sell, so I had to go home.
According to Ms. Huong, if she continues to not be able to buy silver, she will consider switching to other products to make savings.
Also looking to buy silver on Tran Nhan Tong street, Mr. Do Van Chien (Hanoi) said that he had been going to silver business stores for many consecutive days but could not buy it.
According to Mr. Chien, although they arrived early, many stores had not yet sold, and when they returned, the number of people waiting to buy was too large, with no place to wait.
Many of my friends came to queue from 7 am, I was also present from 8:30 am but could not buy because the store did not sell. If I could buy, the store would also postpone a few months later to return the goods, but now they only give payment invoices and appointment slips" - Mr. Chien said.
Silver price update
As of 11:20 am on February 5, the price of silver bars 2024 Ancarat 999 (1 tael) at Ancarat Jewelry Company is listed at the threshold of 2.931 - 3.003 million VND/tael (buying - selling).
The price of 2025 Ancarat 999 (1kg) silver ingots at Ancarat Gem Company is listed at 77.230 - 79.580 million VND/kg (buying - selling).
The price of Kim Phuc Loc 999 silver bars (1 tael) of Saigon Thuong Tin Commercial Joint Stock Company Limited (Sacombank-SBJ) is listed at 3.432 - 3.540 million VND/tael (buying - selling); down 51,000 VND/tael on the buying side and down 60,000 VND/tael on the selling side compared to yesterday morning.
At the same time, the price of 999 silver bars (1 tael) at Phu Quy Jewelry Group was listed at the threshold of 2.905 - 2.995 million VND/tael (buying - selling).
The price of 999 silver ingots (1kg) at Phu Quy Jewelry Group is listed at 77.466 - 79.866 million VND/kg (buying - selling).
On the world market, as of 10:00 AM on February 5th (Vietnam time), the world silver price was listed at 73.57 USD/ounce; down 14.04 USD compared to yesterday morning.
See more news related to silver prices HERE...
