Strong upward momentum on August 23, 2025

According to data from the Vietnam Financial Times, on the morning of August 23, 2025, spot silver prices in the global market continued to climb sharply, reaching 38.865 USD/ounce. In the domestic market, Phu Quy Jewelry Group in Hanoi kept its quotation unchanged from the previous session, at 1,449,000 VND/tael (buying) and 1,494,000 VND/tael (selling). Meanwhile, other trading points in Hanoi adjusted prices upward, with silver quoted at 1,224,000 VND/tael (buying) and 1,258,000 VND/tael (selling), an increase of 25,000 and 26,000 VND respectively compared to the morning session of August 22. This reflects a clear divergence between trading systems, though overall still in line with the global upward trend.

Context: Recovery after corrections and a more stable investor sentiment

Comparisons with earlier sessions highlight this recovery. On August 18, global silver prices inched higher, but the domestic market saw mild declines, with Phu Quy listing prices at 1,449,000 – 1,494,000 VND/tael, while other exchanges in Hanoi and Ho Chi Minh City quoted between 1,201,000 – 1,240,000 VND/tael. After this period of sideways movement, the sharp rise on August 23 marked a significant rebound, particularly at non–Phu Quy outlets, showing that investor sentiment has become more stable and investment flows into silver are strengthening again.

Underlying drivers of the rally

Several factors are fueling silver’s rally. First, the weakening of the US dollar and declining bond yields have traditionally encouraged investors to shift capital toward safe-haven assets like gold and silver, driving demand and prices higher. Second, gold prices have remained elevated, creating a spillover effect on silver as the two precious metals are strongly correlated in investor psychology. Finally, silver’s growing importance in modern industry cannot be overlooked. As an essential material for renewable energy, sensors, and electronic components, higher industrial demand is adding upward pressure on supply, pushing silver prices even higher.

Expert perspectives – outlook and future trends

According to analyst Christopher Lewis, silver may undergo a short-term correction toward the support zone around 37.50 USD/ounce before rebounding if technical signals remain positive. The 39 USD/ounce level is considered a key barrier; a breakout above this level would reinforce the bullish trend and potentially pave the way for testing the psychological threshold of 40 USD/ounce. This suggests that silver still has room for growth, though investors should remain cautious of intermittent corrections, which are typical in the precious metals market.

Lessons for investors

Several important lessons can be drawn from these developments. First, combining technical and fundamental analysis is crucial to fully capture silver’s price trends, as technicals help identify entry and exit points, while fundamentals such as exchange rates, the strength of the US dollar, and industrial demand provide the foundation for long-term moves. Second, investors should pay attention to the domestic market’s volatility, since local prices often react more slowly than international prices and may fluctuate more sharply depending on the listing system. Third, monitoring both international silver prices (USD/ounce) and domestic silver prices (VND/tael) allows for better timing of entry points. Finally, while silver can serve as an effective hedge, it should remain part of a diversified portfolio to mitigate risks from single-asset volatility.

The sharp increase in silver prices on August 23, 2025 signals a breakout following a period of consolidation, driven by global dynamics, industrial demand, and technical indicators. The 39–40 USD/ounce range will be a critical zone to determine the strength of the bullish momentum going forward. For investors who closely track the market, this could be a valuable opportunity to formulate both short-term trading strategies and long-term positioning in line with personal financial goals.

(Source: Vietnam Financial Times)