Silver price today May 7, 2025: Domestic and world silver prices increased sharply
Silver price today May 7, 2025: Domestic and world silver prices increased sharply before US President Donald Trump's new tax plans
Silver price today at Phu Quy Gold and Gemstone Group, Phu Quy silver price increased sharply, listed at 1,264,000 VND/tael (buy) and 1,303,000 VND/tael (sell) in Hanoi.
In addition, according to a survey at other trading locations in Hanoi, domestic silver prices increased sharply in both buying and selling directions, currently listed at VND 1,057,000/tael (buy) and VND 1,086,000/tael (sell).
In Ho Chi Minh City, silver prices are also on a strong upward trend, currently at VND1,058,000/tael (buy) and VND1,092,000/tael (sell).
Specifically, the latest information on silver prices today in the two largest markets of Hanoi and Ho Chi Minh City on May 7, 2025:
| Silver type | Unit | Hanoi | Ho Chi Minh City | ||
| Buy | Sell | Buy | Sell | ||
| Silver 99.9 | 1 amount | 1,057,000 | 1,086,000 | 1,058,000 | 1,092,000 |
| 1 kg | 28,174,000 | 28,972,000 | 28,226,000 | 29,123,000 | |
| Silver 99.99 | 1 amount | 1,064,000 | 1,094,000 | 1,066,000 | 1,096,000 |
| 1 kg | 28,380,000 | 29,184,000 | 28,422,000 | 29,235,000 | |
Update the latest silver price list at Phu Quy Gold and Gemstone GroupMay 7, 2025:
| Silver type | Unit | VND | |
| Buy | Sell | ||
| Silver bars, Phu Quy 999 silver bars | 1 amount | 1,264,000 | 1,303,000 |
| Phu Quy 999 Silver Bar | 1 kg | 33,706,582 | 34,746,580 |
Latest update on world silver prices on May 7, 2025:
| World silver price today (VND) | ||
| Unit | Buy | Sell |
| 1 Ounce | 862,000 | 868,000 |
| 1 Only | 103,974 | 104,600 |
| 1 Amount | 1,040,000 | 1,046,000 |
| 1 Kg | 27,726,000 | 27,893,000 |
On the world market, the silver price listed on Goldprice.org is at 33.13 USD/ounce.
Silver Price Forecast
Silver (XAG/USD) continued to rise for the second consecutive session and is currently hovering around $33.10 an ounce. The increase reflects investor concerns over new tax plans by US President Donald Trump, which have increased demand for safe-haven assets such as silver.
President Trump has announced that he will impose a 100% tariff on foreign-made films and said he is considering tariffs on pharmaceuticals within the next two weeks, adding to market uncertainty amid escalating trade tensions.
However, silver's gains may be limited by a stronger US dollar. A stronger dollar makes silver more expensive for buyers using other currencies, weakening buying in the international market.
Markets are now focused on the US Federal Reserve's monetary policy meeting on Wednesday. Although the possibility of the Fed keeping interest rates unchanged is high, investors are paying special attention to the speech of Chairman Jerome Powell, amid increasing pressure from President Trump to push for interest rate cuts.
Regarding trade negotiations, US Treasury Secretary Scott Bessent said new agreements could be signed soon, showing the positive signs that President Trump mentioned last weekend.
However, Mr. Trump also confirmed that he will not meet with Chinese President Xi Jinping this week. China said it is considering a proposal from the US to resume negotiations, but there has been no concrete progress.