Silver price today 5/6/2025: Silver increased slightly
Silver price today May 6, 2025: Domestic and world silver prices increased slightly as the US dollar weakened.
Silver price today at Phu Quy Gold and Gemstone Group, Phu Quy silver price decreased slightly, listed at 1,238,000 VND/tael (buy) and 1,276,000 VND/tael (sell) in Hanoi.
In addition, according to a survey at other trading locations in Hanoi, domestic silver prices increased slightly in both buying and selling directions, currently listed at VND 1,033,000/tael (buy) and VND 1,063,000/tael (sell).
In Ho Chi Minh City, silver prices also increased, currently at VND1,035,000/tael (buy) and VND1,068,000/tael (sell).
Specifically, the latest information on silver prices today in the two largest markets of Hanoi and Ho Chi Minh City on May 6, 2025:
| Silver type | Unit | Hanoi | Ho Chi Minh City | ||
| Buy | Sell | Buy | Sell | ||
| Silver 99.9 | 1 amount | 1,033,000 | 1,063,000 | 1,035,000 | 1,068,000 |
| 1 kg | 27,537,000 | 28,335,000 | 27,589,000 | 28,486,000 | |
| Silver 99.99 | 1 amount | 1,040,000 | 1,071,000 | 1,042,000 | 1,072,000 |
| 1 kg | 27,743,000 | 28,547,000 | 27,785,000 | 28,598,000 | |
Update the latest silver price list at Phu Quy Gold and Gemstone GroupMay 6, 2025:
| Silver type | Unit | VND | |
| Buy | Sell | ||
| Silver bars, Phu Quy 999 silver bars | 1 amount | 1,238,000 | 1,276,000 |
| Phu Quy 999 Silver Bar | 1 kg | 33,013,251 | 34,026,582 |
Latest update on world silver prices on May 6, 2025:
| Unit | World silver price today (VND) | |
| Buy | Sell | |
| 1 Ounce | 843,000 | 848,000 |
| 1 only | 101,583 | 102,209 |
| 1 amount | 1,016,000 | 1,022,000 |
| 1 kg | 27,089,000 | 27,256,000 |
On the world market, the silver price listed on Goldprice.org is at 32.31 USD/ounce.
Silver Price Forecast
Silver (XAG/USD) rose to nearly $32.60 in U.S. trading on Monday, helped by a weaker U.S. dollar to start the week. Market attention is now focused on the upcoming Federal Reserve monetary policy meeting. The weaker dollar has made silver more attractive to investors, as it reduces the cost of holding non-yielding assets like silver.
The DXY index, which tracks the greenback against a basket of six major currencies, fell about 0.5% to 99.50. The Fed is almost certain to leave rates unchanged at its meeting on Wednesday, according to the CME FedWatch tool. However, the probability of a rate cut in June fell to 32% from 66%, following better-than-expected April nonfarm payrolls data.
Geopolitical concerns are helping silver prices rise amid high interest rates, which are unfavorable for non-yielding assets like silver. Tensions between the U.S. and China have not completely subsided, although President Donald Trump has said he is willing to reduce future tariffs to encourage economic cooperation. However, he has also confirmed that he will not be speaking with Chinese President Xi Jinping this week.
In addition, economic data from the US also supported market sentiment. The ISM Services PMI for April came in at 51.6, above the estimate of 50.6 and the March reading of 50.8, indicating that business activity in the service sector was still expanding slightly. These factors combined to boost safe-haven demand and push silver prices higher at the beginning of the week.
