Gold is scarce, buyers find silver but it is difficult

Phương Anh |

Many people have difficulty buying silver because businesses limit the number of sales or temporarily suspend transactions due to high demand.

Recorded by a reporter from Lao Dong Newspaper on October 17, the domestic price of plain round gold rings and gold bars increased sharply. Meanwhile, silver prices also broke out.

At some silver shops in Hanoi, many people rushed to buy after unable to buy gold. However, they continue to face difficulties due to the sudden increase in the number of people looking to buy silver, causing many stores to be overloaded.

Ngay 17.10, nhieu nguoi den cua hang vang bac tai Ha Noi de mua bac. Anh: Phuong Anh
On October 17, many people came to a gold and silver shop in Hanoi to buy silver. Photo: Phuong Anh

On Tran Nhan Tong street, Ms. Nguyen Hanh Nhi (Hoan Kiem ward, Hanoi) - a customer who wants to buy silver - shared: "I have a habit of taking a part of my monthly income to buy 1-2 taels of gold as savings, but recently it has been very difficult to buy gold. Seeing the increase in silver prices, I switched to buying silver, but silver is not easy to buy at all at the moment".

Ms. Nhi added that many people lined up from 6am to wait for silver shopping vouchers, but in a short time the shop announced that it was out of stock and temporarily stopped selling.

"Because I couldn't buy silver today, I'm preparing to go home" - Ms. Nhi said.

Nhieu cua hang bac het hang, nguoi dan gap kho khi co nhu cau mua. Anh: Phuong Anh
Many stores are out of stock, making it difficult for people to buy when they have a need to buy. Photo: Phuong Anh

Similarly, Ms. Do Mai (Ba Dinh ward, Hanoi) wanted to buy silver but today she returned empty-handed. She shared that she arrived at 8:30 am but the store had announced that it was out of stock.

"The employee said that today the store only distributed about 200 quantities in order, each person was allowed to buy a maximum of 5kg of silver. When I asked when they would reopen for sale, they said they could not determine because the number of customers was already too large. Before, I used to buy gold to save money, now I'm turning to silver as a store of value and I didn't expect it to be so difficult to buy" - Ms. Mai said.

Nhieu nguoi cho biet, ca vang va bac deu kho mua o thoi diem hien tai. Anh: Phuong Anh
Many people said that both gold and silver are difficult to buy at the present time. Photo: Phuong Anh

Updated silver price

As of 11:50 on October 17, the price of 2024 Ancarat 999 silver bars (1 tael) at Ancarat Metallurgy Company was listed at VND 2.080 - 2.122 million/tael (buy - sell).

The price of 999 999 Ancarat silver bars (1kg) at Ancarat Metallurgy Company is listed at 84.506 - 56.006 million VND/kg (buy - sell).

The price of 999 gold bars of Golden Rooster 999 (1 tael) of Saigon Thuong Tin Bank Gold and Gemstone Company Limited (Sacombank-SBJ) is listed at 2.097 - 2.148 million VND/tael (buy - sell).

At the same time, the price of 999 coins (1 tael) at Phu Quy Jewelry Group was listed at 2.077 - 2.141 million VND/tael (buy - sell).

Dien bien gia bac trong nuoc nhung phien gan day. Bieu do: Phuong Anh
Domestic silver price developments in recent sessions. Chart: Phuong Anh

The price of 999 taels (1kg) at Phu Quy Jewelry Group was listed at 55.386 - 57.093 million VND/kg (buy - sell).

On the world market, as of 11:45 a.m. on October 17 (Vietnam time), the world silver price was listed at 54.38 USD/ounce; up 0.9 USD compared to yesterday morning.

Dien bien gia bac the gioi nhung phien gan day. Bieu do: Phuong Anh
World silver price developments in recent sessions. Chart: Phuong Anh

See more news related to silver prices HERE...

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