Domestic silver prices surge, many people flock to buy

Records of Lao Dong reporters on January 19 show that domestic silver prices continue to rise, and transactions at many silver shops in Hanoi are bustling.

However, at some business stores, customers said they had to wait several months to receive goods after completing the ordering procedures, because the supply of silver in the market is in a limited state.

At a silver business store on Xa Dan street (Hanoi), Ms. Do Thi Hoa (Bach Mai ward, Hanoi) said that she switched to buying silver as a savings asset because gold is difficult to buy. However, silver is currently not easily accessible when the number of customers is large and the supply of goods is limited.

According to Ms. Hoa, depending on the time, the store applies different sales policies. There are times when the quantity is unlimited, but there are also times when each customer is only allowed to buy a few kilograms of silver.

At this store, today they sell unlimited amounts of silver for each customer. However, people who order must pay 100% of the order value and wait 70 days to receive the goods. Employees said that due to the large number of customers ordering, they have to arrange to return the goods later. I buy silver as a savings asset, so waiting does not affect me" - Ms. Hoa said.

Also going to buy silver for many days, Mr. Pham Van Tuan (Dong Da ward, Hanoi) said that he often encounters the situation that the store announces that it is out of money, does not sell or promises late payment. However, today, although the number of customers is still quite large, he still can buy.

Last week, I bought 5 taels of silver and had to wait 70 days to receive the goods. Today the store sells unlimitedly, customers still have to pay 100% of the order value and continue to wait about 70 more days. I just registered to buy 10 taels" - Mr. Tuan shared.

Silver price update

As of 5:15 PM on January 19, the price of 2024 Ancarat 999 silver bars (1 tael) at Ancarat Jewelry Company is listed at the threshold of 3.513 - 3.599 million VND/tael (buying - selling).

The price of 2025 Ancarat 999 (1kg) at Ancarat Jewelry Company is listed at the threshold of 92.654 - 95.474 million VND/kg (buying - selling).

The price of Kim Phuc Loc 999 silver bars (1 tael) of Saigon Thuong Tin Bank Jewelry Company Limited (Sacombank-SBJ) is listed at the threshold of 3,540 - 3,630 million VND/tael (buying - selling).

At the same time, the price of 999 silver bars (1 tael) at Phu Quy Jewelry Group was listed at the threshold of 3.502 - 3.61 million VND/tael (buying - selling).

The price of 999 silver bars (1kg) at Phu Quy Jewelry Group is listed at 93.386 - 96.266 million VND/kg (buying - selling).

On the world market, as of 5:15 PM on January 19 (Vietnam time), the world silver price was listed at 93.1 USD/ounce.