Overview of silver price today 1/2/2025

Today's silver price at Phu Quy Jewelry Group has a slight adjustment, currently listed at 1,082,000 VND/tael (buy) and 1,115,000 VND/tael (sell) in Hanoi. According to a survey at other transaction points in the region, the silver price increased slightly and was listed at 908,000 VND/tael (buy) and 949,000 VND/tael (sell). In Ho Chi Minh City, the silver price also tends to increase, currently trading at 910,000 VND/tael (buy) and 951,000 VND/tael (sell). The world silver price remains stable, at 736,000 VND/ounce (buy) and 741,000 VND/ounce (sell).

Update on silver price 2/1 in two major markets Hanoi and Ho Chi Minh City

Update silver price list 2/1 of Phu Quy Gold Investment Joint Stock Company

Update world silver price list on January 2, 20245

Domestic silver prices today only increased slightly and there was no significant fluctuation, while the international market remained stable, this happened in the context of low liquidity due to the 2025 New Year holiday.

In addition, expectations for the US Federal Reserve's (FED) interest rate policy also influenced the upward momentum of silver prices. The FED forecasted fewer rate cuts than previously expected in 2025.

Although there are still many uncertainties, according to experts, silver prices are expected to increase strongly next year thanks to industrial demand and limited silver supply.

Industrial sectors have played a major role in driving silver demand in recent years. As of November, the Silver Institute forecast industrial silver demand to reach 702 million ounces in 2024, up 7% from 655 million ounces in 2023. The increase will come mainly from energy transition sectors, especially solar energy.

However, silver mine production is forecast to increase only slightly by 1% to 837 million ounces in 2024. Recycled supply will bring total silver supply to 1.03 billion ounces in 2024, but still short of total demand of 1.21 billion ounces.