Silver price today May 29, 2025: Silver price drops sharply but Bank of America expects silver price to reach $40/ounce
Silver price today May 29, 2025: Silver price extended its decline due to the strong increase in the USD, but Bank of America said the bank is targeting silver prices up to 40 USD/ounce in the near future.
Surveyed at 4:30 this morning, today's silver price May 29, 2025 at Phu Quy Gold and Gemstone Group, Phu Quy silver price is listed at 1,271,000 VND/tael (buy) and 1,310,000 VND/tael (sell). Compared to yesterday, the silver price increased by 11,000 VND/tael in both buying and selling directions.
In addition, according to a survey at other trading locations in Hanoi, domestic silver prices increased by VND14,000/tael in both buying and selling directions, currently listed at VND1,062,000/tael (buy) and VND1,092,000/tael (sell).
In Ho Chi Minh City, silver prices increased by VND14,000/tael in both buying and selling directions compared to yesterday, currently at VND1,064,000 (buy) and VND1,097,000/tael (sell).
Specifically, the latest information on silver prices today in the two largest markets of Hanoi and Ho Chi Minh City on May 29, 2025:
| Type | Unit | Silver price in Hanoi | Silver price in Ho Chi Minh City | ||
| Buy | Sell | Buy | Sell | ||
| Silver 99.9 | 1 liter | 1,062,000 | 1,092,000 | 1,064,000 | 1,097,000 |
| 1 kg | 28,317,000 | 29,115,000 | 28,369,000 | 29,266,000 | |
| Silver 99.99 | 1 amount | 1,070,000 | 1,100,000 | 1,071,000 | 1,102,000 |
| 1 kg | 28,523,000 | 29,327,000 | 28,565,000 | 29,378,000 | |
Update the latest silver price list at Phu Quy Gold and Gemstone GroupMay 29, 2025:
| Silver type | Unit | VND | |
| Buy | Sell | ||
| Silver bars, Phu Quy 999 silver bars | 1 amount | 1,271,000 | 1,310,000 |
| Phu Quy 999 Silver Bar | 1 kg | 33,893,249 | 34,933,246 |
Latest update on world silver prices on May 29, 2025:
In the world market, the silver price listed on Goldprice.org is at 33.06 USD/Ounce, down 0.16 USD/Ounce compared to yesterday.
| World silver price today (VND) | ||
| Unit | Buy | Sell |
| 1 Ounce | 862,000 | 867,000 |
| 1 Only | 103,915 | 104,541 |
| 1 Amount | 1,039,000 | 1,045,000 |
| 1 Kg | 27,711,000 | 27,878,000 |
Silver Price Forecast
Asked about the outlook for silver prices, which have been rising more slowly than gold due to weak industrial demand, Bank of America analyst Francisco Blanch said the bank is targeting silver prices of up to $40 an ounce in the near term.
Blanch believes silver is an attractive investment because it is both a precious metal and an industrial metal. The precious metal factor has helped drive silver’s price up recently, while weak industrial demand has not contributed much. However, he believes that will change soon.
According to him, the new tariff policies have made the trade environment less favorable, contributing to the slowdown in global manufacturing activities. After a period of active trading from the fourth quarter of last year to the first quarter of this year, the market is now entering a period of adjustment that could last for a quarter or two. However, he expects industrial activity to recover, thereby positively supporting silver prices.
It is worth noting that silver is widely used in the production of solar cells – an area that is receiving huge investment as part of the global energy transition. Blanch stressed that silver is the world’s best conductor of electricity, and therefore will play a key role in electrification and clean energy development.
In terms of recent price movements, silver prices fell in the Tuesday session. However, silver showed strong volatility in both directions, reflecting the unstable market sentiment.
Blanch believes that as industrial activity recovers steadily, silver will have the opportunity to increase its price more strongly and affirm its role as one of the brightest investment assets in the long term.
