Silver price today May 16, 2025: Silver price plummets
Silver price today May 16, 2025: Domestic and world silver prices plummeted as global investor sentiment became more positive
Surveyed at 4:30 this morning, silver price today May 16, 2025 at Phu Quy Gold and Gemstone Group, Phu Quy silver price is listed at 1,230,000 VND/tael (buy) and 1,268,000 VND/tael (sell). Compared to yesterday, silver price decreased by 29,000 VND/tael in buying - decreased by 30,000 VND/tael in selling.
In addition, according to a survey at other trading locations in Hanoi, domestic silver prices dropped sharply by VND11,000/tael in both buying and selling directions, currently listed at VND1,030,000/tael (buy) and VND1,060,000/tael (sell).
In Ho Chi Minh City, silver price increased by 3,000 VND/tael for buying and 8,000 VND/tael for selling, currently at 1,032,000 VND/tael (buying) and 1,066,000 VND/tael (selling).
Specifically, the latest information on silver prices today in the two largest markets of Hanoi and Ho Chi Minh City on May 16, 2025:
| Silver type | Unit | Hanoi | Ho Chi Minh City | ||
| Buy | Sell out | Buy | Sell out | ||
| 99.9 silver | 1 amount | 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 | |
| Silver 99.99 | 1 amount | 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 | |
Update the latest silver price list at Phu Quy Gold and Gemstone GroupMay 16, 2025:
| Silver type | Unit | VND | |
| Buy | Sell out | ||
| Silver bars, Phu Quy 999 silver bars | 1 amount | 1,230,000 | 1,268,000 |
| Phu Quy 999 Silver Bar | 1 kg | 32,799,918 | 33,813,249 |
Latest update on world silver price on May 16, 2025:
In the world market, the silver price listed on Goldprice.org is at 32.39 USD/ounce, up 0.12 USD/ounce compared to yesterday.
| World silver price today (VND) | ||
| Unit | Buy | Sell |
| 1 Ounce | 841,000 | 846,000 |
| 1 Only | 101,344 | 101,969 |
| 1 Amount | 1,013,000 | 1,020,000 |
| 1 kg | 27,025,000 | 27,192,000 |
Silver Price Forecast
Silver prices came under heavy selling pressure on Wednesday, driven largely by a more positive global investor sentiment, according to FX Empire. A cooling gold market also contributed to a decline in interest in precious metals such as silver.
Analyst James Hyerczyk said that despite expectations that the US Federal Reserve (FED) will start cutting interest rates from September by about 53 basis points, silver prices are still struggling to find 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 keep prices going up.
Another factor weighing on silver prices is the improvement in trade relations between the US and China. As trade tensions ease, investor risk appetite increases, reducing demand for safe-haven assets like silver.
Meanwhile, Kitco’s Jim Wyckoff said that July silver futures bulls still have the advantage in the short term. He said that the buyers’ goal is to push prices above the key resistance level of $34.015 an ounce, while the sellers are looking to push prices below the strong support level of $31 an ounce.
Currently, the key levels on the silver price chart are resistance at $33 and $33.48 per ounce, while support is at $32 and $31.86 per ounce. These are the price zones that the market will need to closely monitor to determine the next trend.