Silver prices increase sharply, people accept waiting months to receive goods

The domestic silver market continues to be vibrant as silver prices have continuously increased in recent days, leading to an increasing number of people coming to transaction stores.

According to reporters' records on the weekend (May 9) in the Xa Dan street area (Hanoi), the number of customers coming to trade silver is quite large. Inside many stores, customers continuously ask for prices and order silver bars and silver ingots.

Mr. Nguyen Minh Tuan (Dong Da ward, Hanoi) said that he came to the store from early morning to ask to buy silver bars, but was informed that he had to wait many more weeks to have goods due to the increased number of orders.

I was quite surprised because the number of customers coming to buy was significantly higher than before. Today, I ordered 1 kg of silver and was scheduled to come to get it in July" - Mr. Tuan said.

Mr. Tuan added that he bought silver for the purpose of accumulating assets for a long time, so having to wait to receive goods for a longer time does not affect his personal plans much. "I decided to buy it to save, keep it for a long time, so waiting a few more weeks is not a problem" - he said.

Also on Xa Dan street, Ms. Ngo Thi Hai (Kim Lien ward, Hanoi) said that on weekends she takes advantage of going to the store to order more silver even though the number of customers coming to transact is very large.

According to Ms. Hai, last month she bought 1kg of silver. However, before the continuous increase in silver prices in recent times, she decided to continue to order another 1kg.

Seeing that the price of silver is increasing rapidly, I am also worried that it will continue to increase in the future. At the weekend, I have a holiday, so I take advantage of it to order more to save for the long term" - Ms. Hai shared.

Recorded further on Tran Nhan Tong street (Hai Ba Trung ward, Hanoi), the atmosphere at silver shops is also bustling as many people come to ask for information and receive goods according to appointment slips.

However, according to announcements from some stores, the unit does not conduct direct purchase and sale transactions on weekends. Currently, stores only support returning goods to customers who have pre-ordered and have appointment slips, and purchase and sale activities will take place from Monday to Friday every week.

Ms. Nguyen Mai Chi (Bach Mai ward, Hanoi) said that this weekend she came to Tran Nhan Tong street to receive silver according to the appointment paper registered nearly 4 months ago.

I ordered it in advance, so today I only came to receive the goods according to the store's appointment. Currently, the store does not accept direct purchase and sale transactions on weekends, so customers mainly come to pick up ordered goods" - Ms. Chi said.

According to Ms. Chi, recently, the number of people interested in silver has increased significantly, many stores are often out of stock. "When I ordered, I had to wait quite a long time to have a receipt schedule. Currently, I heard staff announce that many orders have to be scheduled until October to have goods available" - she shared.

Silver price update

As of 4:45 PM on May 9th, the price of silver bars 2024 Ancarat 999 (1 tael) at Ancarat Gem Company was listed at the threshold of 3.016 - 3.090 million VND/tael (buying - selling); an increase of 2,000 VND/tael in both directions compared to yesterday morning.

The price of silver ingots 2025 Ancarat 999 (1kg) at Ancarat Gem Company is listed at 79.480 - 81.900 million VND/kg (buying - selling).

The price of 999 silver (1 tael) of DOJI Jewelry Group Joint Stock Company is listed at the threshold of 3.037 - 3.131 million VND/tael (buying - selling); an increase of 15,000 VND/tael on the buying side and an increase of 16,000 VND/tael on the selling side compared to yesterday morning.

On the world market, as of 4:50 PM on May 9 (Vietnam time), the world silver price was listed at 80.31 USD/ounce; an increase of 0.23 USD compared to yesterday morning.