Global silver prices have surged to USD 39.30 per ounce, marking a 30% increase year-to-date and the highest peak in 14 years. In Vietnam, bullion from Phú Quý Precious Metals has followed suit, rising approximately 5% week-over-week to ₫1,482,000 (buy) and ₫1,528,000 (sell) per tael, closely tracking international trends.

1. ETF Buying Driving Momentum

Analysts attribute the rally primarily to a surge in ETF demand. Holdings in silver-backed ETFs have reached their highest in nearly three years, underscoring investor confidence in silver as both a hedging instrument and a long-term asset .

2. U.S. Bonds and Political Uncertainty Fuel Demand

Rising yields on U.S. government bonds, combined with heightened geopolitical tensions—particularly potential new tariffs (30–35%) on EU and Canada—have driven investors toward safer assets like silver.

3. Industrial Metals Trend Amplifies Silver’s Appeal

The price rally of industrial metals such as copper has spilled over into silver, which straddles roles as both an industrial commodity and precious metal .

Technical Breakout & Market Sentiment

A notable technical breakout occurred early July. Silver climbed past USD 37/oz on July 10 and surged beyond USD 38/oz on July 11, with one-day gains reaching approximately 3.6%, as highlighted by Philip Streible of Blue Line Futures.

Domestic Market Trends

In Vietnam, silver bullion followed global momentum: Phú Quý priced its 999-grade silver taels at ₫1.505 million (sell) and ₫1.460 million (buy), while 1 kg bars exceeded ₫40 million. Year-to-date gains stood at approximately 34% domestically, closing the gap with gold’s 44% rise .

Drivers & Forecast

Experts point to industrial demand—particularly from solar energy, electronics, and electric vehicles—as tightening silver supply and boosting prices . Analysts from FP Markets and TD Securities project a continued rally, with targets ranging from USD 50 to USD 100 per ounce. Even “Rich Dad Poor Dad” author Robert Kiyosaki predicts silver could reach USD 100/oz in the coming years.

Silver has surged to its highest point in 14 years, propelled by safe-haven demand, strong ETF inflows, technical breakout, and rising industrial consumption. With tight supply dynamics and bullish forecasts, the metal’s upward trajectory shows no signs of fading.