Vietnam's Silver Prices Dip as Global Price Rises

The price of silver in Vietnam has decreased domestically while surging globally.

As of July 31, the price of Ancarat's 999 silver bars (1 tael) at Ancarat Gem Company was listed at 2.156 - 2.211 million VND/tael (buying - selling), down 2,000 VND/tael in both buying and selling directions compared to the previous day.

The price of 999 silver ingots (1kg) at Phu Quy Jewelry Group was listed at 57.653 - 59.439 million VND/kg (buying - selling), down 53,000 VND/kg on the buying side and down 54,000 VND/kg on the selling side compared to the previous day.

In contrast, the world silver price has increased slightly, listed at $58.34 per ounce as of July 31 (Vietnam time), up 0.05 USD/ounce from the previous day.

Precious metals analyst Christopher Lewis notes that the silver market has maintained a state of stalemate since mid-June and remains suitable for short-term trading investors, taking advantage of fluctuations within a narrow range.