Silver prices today, January 20th: Rebounding, global market reaches new high of $94.11.
Following a series of corrections, silver prices rose across the board on January 20th in both domestic and international markets. Experts predict that silver has the potential to reach $100 per ounce in the first quarter of 2026.
Silver prices today, January 20th, recorded positive developments as both domestic and international markets reversed course and rose after the correction at the end of last week. Although the increase is not yet very strong, the recovery trend shows significant support from capital flows, given that medium and long-term factors supporting the precious metals group are still considered positive.
Domestic market: Phu Quy silver prices are higher than the average.
In the Vietnamese market, silver prices on the morning of January 20th recorded a slight increase in both buying and selling prices. According to surveys, the prevailing price is currently around 2,902,000 VND/ounce (buying) and 2,932,000 VND/ounce (selling). The buy-sell spread remains moderate, indicating that market sentiment has not yet become overly volatile.
| Area/Unit | Buying price (VND/ounce) | Selling price (VND/ounce) |
|---|---|---|
| General market | 2,902,000 | 2,932,000 |
| Phu Quy Group (Hanoi) | 3,390,000 | 3,495,000 |
| Ho Chi Minh City | 2,904,000 | 2,937,000 |
Notably, at Phu Quy Gold and Gemstone Group in Hanoi, the price of silver was listed significantly higher than the general market average, with a buying price of 3,390,000 VND/ounce and a selling price of 3,495,000 VND/ounce. Meanwhile, in Ho Chi Minh City, the price of silver remained stable around 2,904,000 VND/ounce for buying and 2,937,000 VND/ounce for selling.
World prices set a new record high, with expectations of reaching $100/ounce.
On the international market, spot silver prices opened the week in positive territory, reversing two consecutive days of declines at the end of last week. Currently, the world price of silver is quoted around $89.94 per ounce. Notably, during today's session, the price of silver briefly surged and set a new record high of $94.11 per ounce, surpassing last week's peak of $93.51.
FX Empire analyst James Hyerczyk believes that the downward pressure last week was mainly due to profit-taking after a period of rapid growth. However, each price drop quickly attracted bargain-hunting demand, helping silver maintain its peak. Nevertheless, the current upward trend remains cautious as US retail sales showed signs of slowing down during the holiday season.
In terms of long-term prospects, Citigroup has made positive adjustments to its precious metals outlook. The team of strategists led by Kenny Hu has raised its short-term forecast, setting a price target for silver at $100 per ounce in the first quarter of 2026. Three main drivers behind this trend include escalating geopolitical risks, physical supply shortages, and concerns about the independence of the Federal Reserve. Citigroup believes silver has superior growth potential compared to gold due to its dual role as both a precious metal and a key industrial metal.
