Domestic silver price
As of 9:00 a.m. on April 6, the price of 999 silver bars at Phu Quy Jewelry Group was listed at VND1.183 - 1.220 million/tael (buy - sell); unchanged in both buying and selling directions compared to early this morning.
The price of 999 gold bars at Phu Quy Jewelry Group was listed at VND1.183 - 1.220 million/tael (buy - sell); unchanged in both buying and selling directions compared to early this morning.
At the same time, the price of 999 taels (1kilo) at Phu Quy Jewelry Group was listed at 31,546 - 32,533 million VND/kg (buy - sell).
In the trading session last week (morning of March 30, 2025), the price of 999 1kilo gold bars at Phu Quy Jewelry Group was listed at VND34.879 - 35.946 million/kg (buy - sell).
Thus, if buying 999 (1kilo) taels of silver at Phu Quy Jewelry Group on March 30 and selling them this morning (September 6), buyers will lose up to 4.4 million VND/kg.
World silver price
On the world market, as of 9:10 a.m. on April 6 (Vietnam time), the world silver price listed on Goldprice.org was at 29.53 USD/ounce; unchanged from yesterday's trading session.
Causes and predictions
Silver prices have fallen sharply last week. According to Kitco, rising global trade tensions, mainly due to new tariffs announced by US President Donald Trump, have caused financial markets to plummet.
In an interview with Kitco News, Chris Vermeulen - Founder and Investment Director at TheTechnicalTraders.com - commented: "The landscape has changed. We have shifted from optimism to pessimism.
US stocks have seen consecutive sharp declines. US government bond yields have fallen below 4%, signaling concerns about recession. Chris Vermeulen stressed that while the indicators have not confirmed a recession, people's spending is clearly stopping.
Regarding safe-haven assets, he said: No place is completely safe. This is why gold and silver prices have fallen, and why mining companies have plummeted.
However, he remains optimistic about gold in the long term: Gold has fallen just 5%, while other markets have fallen 15 to 20% or more. My next target for gold is around $3,275/ounce.
On silver, Chris Vermeulen warned: I think we are entering a new phase, from optimism to pessimism.
See more news related to silver prices HERE...
