Today's silver price is listed at 921,000 VND/tael for buying and 955,000 VND/tael for selling in Hanoi. The silver price in Ho Chi Minh City is listed higher at 923,000 VND/tael for buying and 961,000 VND/tael for selling. The world silver price is at 772,000 VND/ounce for buying and 776,000 VND/ounce for selling.
Specifically, the latest information on silver prices today in the two largest markets of Hanoi and Ho Chi Minh City on October 2, 2024:
Silver type | Unit | Hanoi | Ho Chi Minh City | ||
Buy | Sell | Buy | Sell | ||
Silver 99.9 | 1 amount | 921,000 | 955,000 | 923,000 | 961,000 |
| 1 kg | 24,573,000 | 25,471,000 | 24,621,000 | 25,617,000 | |
| Silver 99.99 | 1 amount | 925,000 | 959,000 | 927,000 | 964,000 |
| 1 kg | 24,669,000 | 25,583,000 | 24,721,000 | 25,720,000 | |
Latest update on world silver prices on October 2, 2024
| Unit | World silver price today (VND) | |
Buy | Sell | |
| 1 Ounce | 772,000 | 776,000 |
| 1 only | 93,092 | 93,537 |
| 1 amount | 931,000 | 935,000 |
| 1 kg | 24,825,000 | 24,943,000 |
Silver, both a safe-haven investment and an important material in industrial applications, has gained more than 35% in value so far this year.
One of the main catalysts for silver’s rally is gold, given the strong correlation between the two metals, said Aneeka Gupta, director of macroeconomic research at WisdomTree. The gold-silver ratio has fallen as silver has rallied, Gupta said. The gold-silver ratio, which measures the number of ounces of silver needed to buy one ounce of gold, shows the value of silver relative to gold. The ratio is currently around 82.
The majority of silver demand comes from the industrial sector, used in the production of photovoltaic products such as solar panels, with volumes nearly doubling year-on-year.
Spot silver rose 0.6% to $32.03 an ounce, after hitting its highest since December 2012 at $32.71 an ounce.
Amelia Xiao Fu, Head of Commodities at BOCI, said silver prices will continue to rise in the coming quarters as China’s continued rate cuts and economic stimulus measures are likely to continue for some time. She predicted silver prices will head towards $37 an ounce.
Source: https://congthuong.vn/gia-bac-hom-nay-2102024-bac-duy-tri-da-tang-len-muc-cao-nhat-gan-12-nam-349634.html
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