Domestic silver prices surge, stores are bustling with traders

Along with the fluctuations of the precious metal market, silver is becoming a commodity of interest to many people as prices tend to increase.

Records on March 7 at some silver shops on Xa Dan street (Hanoi) show that quite a few customers come to ask to buy silver bars and silver pieces. Many people said they choose silver because it is suitable for their financial capacity and can be bought in small quantities.

Mr. Ngo Trung Kien (Kim Lien ward) said that he just bought 3 taels of silver. He said that silver has a more accessible price compared to gold, so he decided to buy a few taels to keep.

According to Mr. Kien, for those who want to try to accumulate precious metals but do not want to spend too much money, silver is a suitable choice. "Buying a few taels of silver is not too financially pressured. When needed, you can resell each part, so it is quite flexible" - Mr. Kien shared.

Also on Xa Dan street, Ms. Bui Quynh Trang (Lang ward) shared that she just bought 10 taels of silver, each piece equivalent to 1 tael. According to Ms. Trang, buying silver in small pieces makes transactions more convenient later.

I choose silver type of 1 tael per piece so that later if necessary, I can sell each tael one by one. This will be more proactive than buying a large block" - Ms. Trang said.

According to her, silver has been of interest to many people recently, so she also decided to buy a part to hold. "I think dividing it into smaller quantities helps me to easily consider when selling, it is not necessary to sell all at once" - she said.

Meanwhile, in the Tran Nhan Tong street area (Hanoi), where many gold and silver stores are concentrated, some customers said that buying silver sometimes has to wait due to the source of goods and the store's transaction schedule.

Ms. Mai Thi Linh (Cua Nam ward) - a regular customer who regularly buys silver in this area - said that the last time she ordered silver was on Monday at the beginning of the week. At that time, the store announced that she could not return the goods until August because the number of customers ordering was quite large.

This weekend, Ms. Linh continued to visit the store with the intention of buying more. However, the staff said that currently the store only returns goods to customers who have pre-ordered invoices, and new transactions will be resumed next Monday.

I came to ask to buy more, but the store said today only returns goods to customers who have pre-ordered. If you want to make a new transaction, you have to wait until the beginning of the week" - Ms. Linh said.

According to Ms. Linh, having to wait a few more days is not a big problem because she usually buys silver in installments. "I still occasionally buy silver when I have the means. For me, this is a fairly familiar way to keep assets" - she shared.

Silver price update

As of 3:00 PM on March 7th, the price of silver bars 2024 Ancarat 999 (1 tael) at Ancarat Gem Company was listed at the threshold of 3.170 - 3.248 million VND/tael (buying - selling); an increase of 36,000 VND/tael on the buying side and an increase of 37,000 VND/tael on the selling side compared to yesterday morning.

The price of silver ingots 2025 Ancarat 999 (1kg) at Ancarat Gem Company is listed at 83.574 - 86.114 million VND/kg (buying - selling); an increase of 958,000 VND/kg on the buying side and an increase of 988,000 VND/kg on the selling side compared to yesterday morning.

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 the threshold of 3.249 - 3.351 million VND/tael (buying - selling); an increase of 15,000 VND/tael in both directions compared to yesterday morning.

At the same time, the price of 999 silver bars (1 tael) at Phu Quy Jewelry Group was listed at 3.166 - 3.264 million VND/tael (buying - selling); an increase of 30,000 VND/tael on the buying side and an increase of 31,000 VND/tael on the selling side compared to yesterday morning.