Silver Prices Plummet Over 50% from Peak Amid Global Economic Slowdown
Domestic silver prices have plummeted by over 50% from their peak in early 2026, leaving many investors with significant losses.
On August 5th, the buying and selling prices of various types of silver bars were quoted at 2.22-2.29 million VND/ounce by SACOMBANK - SBJ, with some brands increasing their prices by approximately 80,000-90,000 VND per tael compared to yesterday.
The price of silver by the kilogram and silver ingots at many brands is trading around 60.3 million VND/kg for buying and 62.2 million VND/kg for selling, an increase of about 2.5 million VND per kg compared to yesterday.
Dr. Nguyen Duy Quang, Head of the Digital Economy Department at the University of Economics and Finance Ho Chi Minh City (UEF), analyzed that domestic silver prices are being strongly affected by the trend of international silver prices, which have continuously declined under the pressure of the prolonged high interest rate policy from the US Federal Reserve (Fed).
The sluggishness in industrial demand and cyclical factors in commodities have also contributed to the recent sharp decline in silver prices.