Silver prices rise continuously
In the days close to the God of Wealth festival this year, the silver market recorded vibrant developments as prices continuously increased and shopping demand increased. In the domestic market, silver prices have increased sharply compared to the time before the Lunar New Year, leading to a bustling trading atmosphere at many gold and silver stores across the country.
Many products serving the good luck occasion at the beginning of the year even fell into a "sold out" situation right after opening for sale.
On the international market, world silver prices at 12:05 PM on February 23rd (Vietnam time) were listed at 87.04 USD/ounce, extending the strong increase from last weekend's session.
This development is believed to stem from the trend of investors seeking safe havens in the context of global political turmoil, especially after information related to US President Donald Trump's tax policy.
Domestically, silver prices as of the morning of the same day had three consecutive recovery sessions, approaching the 90 million VND/kg mark. This is the highest growth rate since the Lunar New Year holiday, when before that silver prices once fell to the threshold of 75 million VND/kg.
At 12:05 PM on February 23, Ancarat's silver price was listed at 3,347,000 VND/tael for selling and 3,246,000 VND/tael for buying.
With the 1 kg silver ingot product line, Ngan Long Quang Tien 999 Ancarat 999 (1kg) is listed at 89.253 - 86.560 million VND/kg (buying - selling), while Dong Son Tu Bao 999 (1kg) is traded around 89.387 - 86.750 million VND/kg (buying - selling).
Meanwhile, 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 3.582 - 3.684 million VND/tael (buying - selling).
The God of Wealth spirit market becomes bustling
Although there are still three days until the God of Wealth Day (January 10th), the gold and silver market has already entered its peak.
At many large stores such as Bao Tin Manh Hai, Mi Hong or Ancarat, the number of customers increased sharply from morning to the end of the day, and the shopping atmosphere was bustling.
Talking to a reporter of Lao Dong Newspaper, an representative of Ancarat said that the enterprise has prepared 20,000 products of Than Tai Van Phuc 5 taels, made from 99.9% pure silver. However, right on the first day of opening for sale, the products continuously fell into a state of out of stock. Before the increased purchasing power, some stores had to apply the regulation that each customer can only buy one product to ensure access opportunities for many buyers.
Not only the Than Tai Van Phuc line, other products such as 1 chi gold horse, 5 luong Ngan Ma, 5 luong Song Ma, Ngan Long or Silver Lion with versions of 1 luong, 5 luong and 1 kg are also strongly sought after by customers. The shopping trend is not only taking place directly at stores but also spreading to online channels.
We have prepared more than 50,000 silver products for the God of Wealth occasion to meet the good luck needs of people at the beginning of the year. However, this year's market is bustling earlier than expected, right from the 4th day of Tet when stores reopen, the supply is still not enough to meet increased purchasing power" - Mr. Nguyen Trung Anh, Chairman of Ancarat Precious Metal Joint Stock Company shared.
Ancarat also said that it only sells available goods and does not accept pre-orders, ensuring that buyers can receive products immediately after the transaction.
Meanwhile, representatives of Bao Tin Minh Chau said that the main product line for the 2026 God of Wealth occasion continues to be Thang Long Dragon Gold 999. 9 round plain rings (24K gold) with positions from 0.5 chi to 10 chi, meeting the flexible accumulation needs and convenient liquidity of customers.
This year's shopping trend leans towards small, easy-to-stockpile products, which both bring asset value and send expectations of good luck and smooth progress in the new year. Bao Tin Minh Chau has proactively prepared supply and implemented God of Wealth Week from the 6th to the 12th day of the first lunar month to serve the increasing demand of people" - a representative of this business shared.
