Silver price today, May 16, 2025: Silver price plummets.
Silver prices today, May 16, 2025: Domestic and international silver prices plummet due to more positive investor sentiment globally.
According to a survey conducted at 4:30 AM this morning, May 16, 2025, the price of silver at Phu Quy Gold, Silver and Gemstone Group is listed at 1,230,000 VND/ounce (buying price) and 1,268,000 VND/ounce (selling price). Compared to yesterday, the price of silver decreased by 29,000 VND/ounce in the buying price and 30,000 VND/ounce in the selling price.
Additionally, according to surveys at other trading locations in Hanoi, the domestic silver price has fallen sharply by 11,000 VND/ounce in both buying and selling directions, currently listed at 1,030,000 VND/ounce (buying) and 1,060,000 VND/ounce (selling).
In Ho Chi Minh City, the price of silver increased by 3,000 VND/ounce for buying and 8,000 VND/ounce for selling, currently standing at 1,032,000 VND/ounce (buying) and 1,066,000 VND/ounce (selling).
Here is the latest information on today's silver prices in the two largest markets, Hanoi and Ho Chi Minh City, on May 16, 2025:
| Silver type | Unit | Hanoi | Ho Chi Minh City | ||
| Buy | Sell | Buy | Sell | ||
| 99.9% Silver | 1 tael | 1,030,000 | 1,060,000 | 1,032,000 | 1,066,000 |
| 1 kg | 27,473,000 | 28,271,000 | 27,525,000 | 28,422,000 | |
| 99.99% Silver | 1 tael | 1,038,000 | 1,068,000 | 1,040,000 | 1,070,000 |
| 1 kg | 27,679,000 | 28,483,000 | 27,721,000 | 28,534,000 | |
Get the latest silver price list at Phu Quy Gold, Silver and Gemstone Group.May 16, 2025:
| Silver type | Unit | VND | |
| Buy | Sell | ||
| Phu Quy 999 Silver Bars and Ingots | 1 tael | 1,230,000 | 1,268,000 |
| 999 Gold Ingots | 1 kg | 32,799,918 | 33,813,249 |
Latest update on world silver prices as of May 16, 2025:
On the global market, the price of silver listed on Goldprice.org is at $32.39 per ounce, up $0.12 per ounce from yesterday.
| Today's world silver price (VND) | ||
| Unit | Buy | Sell |
| 1 Ounce | 841,000 | 846,000 |
| 1 tael | 101,344 | 101,969 |
| 1 tael | 1,013,000 | 1,020,000 |
| 1 kg | 27,025,000 | 27,192,000 |
Silver price forecast
According to FX Empire, silver prices came under strong selling pressure on Wednesday, primarily due to more positive global investor sentiment. The cooling of the gold market also contributed to reduced interest in precious metals like silver.
Analyst James Hyerczyk believes that despite expectations that the US Federal Reserve (FED) will begin cutting interest rates in September by around 53 basis points, silver prices are unlikely to find upward momentum. The reason is that low interest rates are usually beneficial for silver, but in this case, the supporting factors are not strong enough to sustain an upward price movement.
Another factor putting pressure on silver prices is the improvement in trade relations between the US and China. As trade tensions ease, investor risk appetite increases, leading to a decrease in demand for safe-haven assets like silver.
Meanwhile, Jim Wyckoff, an expert from Kitco, believes that July silver futures speculators still hold the short-term advantage. He assesses that the buyers' target is to push the price above the key resistance level of $34.015 per ounce. Conversely, sellers are looking to pull the price below the strong support level at $31 per ounce.
Currently, key levels on the silver price chart are resistance at $33 and $33.48 per ounce, while support is located at $32 and $31.86 per ounce. These are price zones that the market will need to closely monitor to determine the next trend.
