On May 13th, the domestic silver market continued to record an upward trend after many volatile sessions, leading to the resumption of trading activities at some precious metal stores on Cau Giay Street (Hanoi). Not only new buyers are interested, but many old customers also returned to sell as prices improved.
At silver business points, the trading atmosphere took place continuously from early morning. People brought physical silver and order papers to carry out transactions, queuing to wait for their turn to be inspected, compared and complete procedures.
Sharing with reporters, Mr. Pham Duc Hoang (Cau Giay ward, Hanoi) said that he decided to sell the silver he bought a few months ago to rotate finances for a small business.
Actually, I didn't intend to sell early, but problems arose, so I had to raise money. Seeing the price is rising, I finalized it immediately" - Mr. Hoang said.
According to Mr. Hoang, the transaction time at the store is relatively long due to the large number of customers.
The inspection, weighing, and confirmation stage takes quite a lot of time. Waiting for an hour to finish" - he shared.
Regarding the payment method, Mr. Hoang said that the store announced that the money from silver sales will be transferred directly to the customer's bank account as stated on the invoice. The payment time fluctuates within a few hours after completing the transaction, no later than May 18.
Also present at the store in the morning, Ms. Vu Thi Tra (Tay Mo ward, Hanoi) said that she is holding 3kg of physical silver and also a promissory note to receive 2kg of silver expected in June.
However, when the price increased again, she decided to bring all the silver she had along with the appointment slip to the store to sell.
I mainly buy silver to maintain the value of contingency assets, not putting much emphasis on short-term investments. Recently, I needed to focus capital on another family plan, so I decided to sell both the part I kept and the receipt slip to arrange finances neatly" - Ms. Tra shared.
Silver price update
As of 12:35 PM on May 13, the price of 999 silver (1 tael) of DOJI Jewelry Group Joint Stock Company was listed at 3.198 - 3.280 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 3.198 - 3.280 million VND/tael (buying - selling).
The price of 999 silver ingots (1kg) at Phu Quy Jewelry Group is listed at 85.279 - 87.466 million VND/kg (buying - selling).
On the world market, as of 9:15 am on May 13 (Vietnam time), the world silver price was listed at 86.79 USD/ounce; up 0.76 USD compared to yesterday morning.
The upward momentum of the international market is affecting domestic silver prices. People need to be cautious and avoid following the psychology of crowds when silver prices fluctuate sharply, especially in the context that the difference between buying and selling prices is still maintained at a high level.
See more news related to silver prices HERE...
