Silver prices reach record high: demand increases due to inflation!

Silver prices reach record high: demand increases due to inflation!

On June 7, 2025, the silver market in Vietnam shows a range of prices that reflects the international trend. The price of silver has increased significantly in recent days, driven by both technical and broader economic factors.

How Vietnam.vn reported, the silver price on June 6, 2025 at Phu Quy Jewelry Group in Hanoi was VND 1,346,000 per tael when buying and VND 1,388,000 when selling. In Ho Chi Minh City the price was equally high, with a purchase price of VND1,143,000 and a selling price of VND1,176,000 per tael.

Price development and market analysis

The general silver prices in Hanoi for silver 99.9 reach the following values: 1,141,000 VND when buying and 1,171,000 VND when selling. Similar results were seen in Ho Chi Minh City, with VND1,143,000 for purchase and VND1,176,000 for sale. For silver 99.99, the price in Hanoi is quoted at 1,148,000 VND (buy) and 1,179,000 VND (sell), while in Ho Chi Minh City the price is 1,150,000 VND (buy) and 1,181,000 VND (sell).

Current global prices show that an ounce of silver is bought for 942,000 VND and sold for 947,000 VND. Silver prices are increasing around the world, and as of June 6, 2025, the price of 1 kg of silver was VND 30,272,000 (buy) and VND 30,440,000 (sell).

Influencing factors

Market analyst James Hyerczyk highlights that steel tariff increases and US-China trade tensions are driving interest in safe-haven assets, including silver. These factors contribute to prices experiencing pressure and increasing demand in recent days.

Currently, the price of silver in the global market is at USD 35.86 per ounce, an increase of USD 1.33 since the morning. It is also expected that the release of US jobs data on June 6th could have an impact on silver prices: good data could delay a rate cut and strengthen the US dollar, while weak data would tend to support silver prices.

The fluctuations in silver prices are not only a result of local demand, but also reflect international trends. Loud Exchange Rates.org, the current silver spot prices in Vietnam are displayed in real time and in Vietnamese dong, with prices constantly updated at trading venues in Tokyo, London and New York.

Overall, developments point to a robust silver market in Vietnam, influenced by both local and international factors.