Silver price today at Phu Quy Jewelry Group, Phu Quy silver price increased slightly, listed at 1,188,000 VND/tael (buy) and 1,225,000 VND/tael (sell) in Hanoi. In addition, according to a survey at other transaction locations in Hanoi, domestic silver prices increased slightly in both buying and selling directions, currently listed at 950,000 VND/tael (buy) and 980,000 VND/tael (sell). In Ho Chi Minh City. Ho Chi Minh City, silver prices are on the same upward trend, currently at 952,000 VND/tael (buy) and 986,000 VND/tael (sell). World silver prices increased in both buying and selling directions, currently at 774,000 VND/ounce (buy) and 779,000 VND/ounce (sell).

Specifically, the latest information on silver prices today in the two largest markets of Hanoi and Ho Chi Minh City on April 9, 2025:

In the global market, silver prices are listed on Goldprice.org at $30.1/ounce.

Silver prices have recovered to around $30.05/ounce at the beginning of the week. According to FXStreet, the white metal increased slightly amid concerns about tariff wars and the possibility of a global recession, which has boosted demand for safe-haven assets.

Silver prices have seen strong volatility since last week, after the US imposed tariffs on key trading partners. Concerns about an economic recession due to the global trade war, which began with tariffs imposed by US President Donald Trump, have dampened market sentiment and impacted precious metal prices.

However, strong industrial demand, especially from new industries such as electric vehicles (EVs) and solar energy, is creating positive momentum for the white metal. Demand is expected to continue to grow in the consumer electronics market, as the development of artificial intelligence systems continues to drive new products.

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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.

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Domestic steel prices remain stable

In the first days of March, domestic steel prices continued to fluctuate between VND13,400 – 13,850/kg, reflecting the stability of domestic supply and demand. Specifically:

Steel prices in the North:

Hoa Phat: CB240 – 13,480 VND/kg, D10 CB300 – 13,580 VND/kg

Viet Y: CB240 – 13,580 VND/kg, D10 CB300 – 13,690 VND/kg

Viet Duc: CB240 – 13,430 VND/kg, D10 CB300 – 13,740 VND/kg

VAS: CB240 – 13,400 VND/kg, D10 CB300 – 13,450 VND/kg

Viet Sing: CB240 – 13,500 VND/kg, D10 CB300 – 13,700 VND/kg

Steel prices in the Central region:

Hoa Phat: CB240 – 13,530 VND/kg, D10 CB300 – 13,640 VND/kg

Viet Duc: CB240 – 13,840 VND/kg, D10 CB300 – 14,140 VND/kg

VAS: CB240 – 13,800 VND/kg, D10 CB300 – 13,850 VND/kg

Steel prices in the South:

Hoa Phat: CB240 – 13,480 VND/kg, D10 CB300 – 13,580 VND/kg

VAS: CB240 – 13,450 VND/kg, D10 CB300 – 13,550 VND/kg

Tung Ho: CB240 – 13,400 VND/kg, D10 CB300 – 13,750 VND/kg

Although the domestic market has not fluctuated much, the development of world steel prices is creating many challenges, especially in the face of trade policies from the US and the supply-demand situation in Europe.

World steel prices on March 3 and impacts from trade policies

In the international market, the price of steel bars for April delivery on the Shanghai Futures Exchange (SHFE) decreased by 0.33% to 3,275 yuan/ton, while the price of iron ore on the Dalian Commodity Exchange (DCE) was flat at 815 yuan/ton. In Singapore, the price of iron ore decreased by 1.9 USD/ton to 102.44 USD/ton.

In terms of the past week, steel bars decreased by 1.3%, iron ore prices decreased by 3.4%, while the decrease of futures contracts on the market was up to 5%. These fluctuations are greatly influenced by trade tensions between the US and Europe, especially the tariff policy on Chinese steel exports.

Specifically, French President Emmanuel Macron announced that the European Union will take countermeasures if the US imposes a 25% tariff on steel and aluminum imported from the EU. Previously, US President Donald Trump also imposed a similar tariff on goods from Canada and Mexico, and imposed an additional 10% tariff on China. These policies can change the supply-demand situation in the world steel market, putting pressure on prices and consumption demand.

Signs of recovery from Europe and prospects for the second quarter of 2025

Despite facing challenges from tariff policies, the steel market in Europe is starting to show signs of improvement. Demand in the European Union could recover in the second quarter of 2025, particularly from the construction sector, according to the February report of World Steel Dynamics (WSD).

Business sentiment in the Eurozone is showing signs of optimism, with the ZEW Economic Sentiment Index rising to 24.2 points in February, significantly above the average. The construction sector is expected to be the main driver of the recovery in the steel price market, with activity in the sector expected to return to pre-pandemic levels by the end of the second quarter.

In addition, the decline in steel imports into the EU also contributed to supporting prices in the region. Statistics from January 1 to February 18 showed that the volume of hot-rolled coil (HRC) imported into the EU decreased by 42% compared to the same period last year. If new import restrictions are imposed in April, sheet imports could fall by another 25% quarter-on-quarter, allowing regional producers to maintain their market share.

According to WSD’s forecast, if demand continues to improve and supply is adjusted accordingly, steel prices in Europe could reach EUR 640-650/t in Q2/2025. However, there are still many risks such as economic instability, policy changes and global market fluctuations.

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