Domestic silver prices fall sharply, many people line up to buy to "catch bottom

According to reporters' records on the morning of June 25 at some silver trading stores on Cau Giay street (Hanoi), the number of customers coming to transact increased significantly compared to previous days.

Right from the early morning, the transaction area had many people waiting for their turn to buy silver or receive goods according to the appointment slip. Some customers said they had been monitoring silver prices for many days and decided to spend money when the market continuously adjusted downwards.

Ms. Nguyen Minh Anh (Cau Giay ward, Hanoi) said that she had just come to the store to receive silver according to the appointment paper she had pre-ordered. According to her, the sharp drop in silver prices in recent days is also an opportunity to buy more.

I came to get silver according to the appointment of the previous purchase. Seeing that the price was decreasing quite deeply, I decided to buy an additional 5 taels of silver to accumulate. The store staff announced that the number of customers ordering is quite large, so I was scheduled to return to receive the goods on September 14" - Ms. Minh Anh shared.

According to Ms. Minh Anh, silver is still a suitable accumulation channel for many people's financial capacity. The price adjustment down makes her more confident to spend money instead of continuing to wait.

Meanwhile, Mr. Do Viet (Nghia Do ward, Hanoi) said that he had just registered to buy 1kg of silver bars at a price of about VND 59.8 million/kg.

I followed silver prices for quite a long time. When I saw the market decline sharply continuously, I decided to deposit money to buy 1kg of silver. I think this is a relatively attractive price range to try "catching bottom", although I still determine that the price may still fluctuate in the short term" - Mr. Viet said.

According to Mr. Viet, silver is attracting the attention of many individual investors because the capital invested is lower than gold but still has the potential to increase in price in the long term.

Also present at the store, Ms. Bui Thu Huong (Yen Hoa ward, Hanoi) said that she had just bought an additional 5 taels of silver, equivalent to 5 tael silver pieces.

I have bought silver in many installments since the beginning of the year. Currently, there are still two silver receipt appointments at home in July and August. Today, seeing the price drop sharply, I continued to buy more" - Ms. Huong said.

Silver price update

As of 11:15 am, the price of 999 silver (1 tael) of DOJI Jewelry Group Joint Stock Company was listed at the threshold of 2.174 - 2.246 million VND/tael (buying - selling); down 156,000 VND/tael on the buying side and down 161,000 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 2.179 - 2.246 million VND/tael (buying - selling); down 158,000 VND/tael on the buying side and down 163,000 VND/tael on the selling side compared to yesterday morning.

The price of 999 silver ingots (1kg) at Phu Quy Jewelry Group is listed at 58.106 - 59.893 million VND/kg (buying - selling); down 4.213 million VND/kg on the buying side and down 4.346 million VND/kg on the selling side compared to yesterday morning.

On the world market, as of 11:33 AM on June 25 (Vietnam time), the world silver price was listed at 57.32 USD/ounce; down 4.17 USD/ounce compared to yesterday morning.