Silver price update today, March 24, 2026: Prices surge across the board.
Silver price update today, March 24, 2026: Domestic and international silver prices simultaneously surged, ending a series of consecutive declines thanks to recovering demand and macroeconomic changes.
Today, March 24, 2026, silver prices are showing a recovery trend in both domestic and international markets. After a prolonged period of decline, the price of this precious metal has surged across major dealers, reflecting a cautious but promising sentiment among investors in light of new developments in the global economy.
Trends in domestic and international silver prices.
In the Hanoi market, Phu Quy Gold and Gemstone Group currently lists the price of silver at 2,583,000 VND/ounce (buying price) and 2,663,000 VND/ounce (selling price). At other trading locations in the capital, the price of silver also recorded a significant increase, fluctuating around 2,277,000 VND/ounce (buying price) and 2,307,000 VND/ounce (selling price).
In Ho Chi Minh City, silver prices maintained a similar upward trend, listed at 2,279,000 VND/ounce (buying price) and 2,313,000 VND/ounce (selling price). Below is a summary table of silver prices in the main markets:
| Region/Dealer | Buying price (VND/ounce) | Selling price (VND/ounce) |
|---|---|---|
| Phu Quy (Hanoi) | 2,583,000 | 2,663,000 |
| Hanoi (Other locations) | 2,277,000 | 2,307,000 |
| Ho Chi Minh City | 2,279,000 | 2,313,000 |
On the international market, silver prices also recorded a recovery after last week's sell-off pressure.
Pressure from monetary policy and geopolitics
Despite a slight recovery, the market remains affected by escalating geopolitical tensions between the US and Iran. Notably, over the past week, despite rising risks, silver failed to perform its usual role as a safe haven. According to Muhammad Umair, a currency and precious metals analyst at FX Empire, the main reason stems from shifts in macroeconomic factors.
Specifically, the Federal Reserve's (FED) continued tight monetary policy, combined with inflationary pressure from rising oil prices, is significantly impacting investment flows. This situation creates high sensitivity to silver prices, leading to a period of unpredictable volatility in the market.
The connection between silver and industrial production
Unlike gold, the value of silver largely depends on actual production demand. This metal is an indispensable component in the electronics and renewable energy industries, especially in the production of solar cells. However, as energy costs rise, production tends to slow down, directly reducing the demand for silver.
Data from the Silver Institute indicates that approximately 50% of global silver demand comes from the industrial sector. This is a key factor that makes silver prices more sensitive to economic fluctuations, rather than simply moving according to investors' safe-haven demand.
