Silver price 31/03: slight decrease, market shows new speculative signals

Silver price on 31/03/2025 recorded a slight decrease at some businesses, while gold price remained high, continuing to exceed 100 million VND/tael, maintaining a large difference compared to international prices.

Silver price slightly decreased, market shows new speculative signals
In Hanoi, Phu Quy Jewelry Group listed silver price at 1,308,000 VND/tael (buy) and 1,348,000 VND/tael (sell), a slight decrease compared to the previous session. Other trading points in Hanoi also recorded stable prices around 1,064,000 – 1,094,000 VND/tael.

In Ho Chi Minh City, silver prices remained stable at VND 1,066,000/tael (buy) and VND 1,100,000/tael (sell). The selling price of silver here is about VND 6,000/tael higher than the Hanoi market.

Details of silver prices on March 31, 2025 in two major cities (unit: VND):

In the international market, silver prices are trading at $34.04/ounce, unchanged from the previous session, equivalent to about VND873,000 – VND878,000/ounce (buy – sell). This stable level shows that demand is currently balanced with short-term profit-taking pressure.

Notably, according to Kitco, social network X (Twitter) is spreading the SilverSqueeze 2.0 campaign – a movement calling for massive purchases of physical silver to tighten supply, similar to the “GameStop” event on Wall Street in 2021. The goal of this group of small investors is to push silver prices to surge beyond the resistance level, creating a new price increase cycle in the context of inflation that has not cooled down and supply is still tight.

Gold prices hold steady, the gap with international prices continues to widen

In contrast to silver, domestic gold prices on March 31 continued to stand at a high level after a week of strong increases. At many large enterprises, the price of SJC gold bars remained stable compared to the previous session.

SJC: VND98.4 million/tael (buy) – VND100.7 million/tael (sell)

DOJI: VND98.4 million/tael – VND100.7 million/tael

Bao Tin Minh Chau: VND98.5 million/tael – VND100.7 million/tael

Mi Hong: VND98 million/tael – VND99.7 million/tael

With a difference of about VND2.3 million/tael in buying and selling prices, investors are expecting an adjustment in the coming time to increase profits. In the last week of March alone, the selling price of gold increased by about VND3.3 million/tael, bringing a profit of more than VND1 million/tael to investors who bought at the beginning of the week.

In the world market, according to Kitco, the spot gold price this morning was recorded at 3,083.39 USD/ounce, equivalent to about 96.1 million VND/tael (converted according to the free USD exchange rate). Thus, SJC gold is about 4.3 million VND/tael higher than the world price, reflecting that domestic demand for physical gold remains high.

Silver and gold market outlook: Cautious but still attracting cash flow

Experts say that in the context of many fluctuations in the global economy, precious metals such as gold and silver continue to be safe havens for cash flow. However, the clear differentiation between silver and gold prices shows that market sentiment is divided by speculative factors (for silver) and risk-aversion factors (for gold).

The US Federal Reserve’s (FED) interest rate policy, stock market volatility and geopolitical tensions could be key factors influencing gold and silver price trends in April.