Silver prices surged today, January 15th, reaching nearly $90 per ounce due to geopolitical instability.
The global silver market surged to $89.75 per ounce, pushing domestic silver prices in Phu Quy to reach 3.506 million VND per tael during the trading session on January 15th.
Domestic and global silver prices surged sharply in the trading session on January 15th. The main driving force behind this growth is believed to be the increase in global geopolitical instability and expectations that the US Federal Reserve (Fed) will soon implement monetary policy easing.
Domestic silver prices surpass 3.5 million VND per tael.
In the Hanoi market, Phu Quy Gold, Silver and Gemstone Group has significantly increased its listed prices. Specifically, the price of silver currently stands at 3,401,000 VND/ounce (buying price) and 3,506,000 VND/ounce (selling price).
Notably, an upward trend was also observed at other trading points in Hanoi, with buying prices around 2,912,000 VND/ounce and selling prices around 2,942,000 VND/ounce. In Ho Chi Minh City, the market also showed positive developments, with silver prices remaining at 2,914,000 VND/ounce (buying) and 2,947,000 VND/ounce (selling).
The global market is approaching the $90/ounce mark.
On the international exchange, the price of silver recorded an impressive increase, reaching $89.75 per ounce, equivalent to a $3.86 increase compared to the previous session. When converted using the domestic exchange rate, the world price of silver is currently equivalent to approximately VND 2.376 – VND 2.382 million per ounce (buying price – selling price).
The precious metals market is being directly impacted by investor caution ahead of the release of the US Producer Price Index (PPI). This inflation data will be a crucial indicator for the market to assess the Fed's next move on interest rates. James Hyerczyk, an expert at FX Empire, believes investors will remain optimistic about precious metals unless inflation unexpectedly deviates from forecasts.
Prospects of conquering the $100/ounce mark.
According to a report from expert Nick Cawley of Solomon Global, both gold and silver are on track to conquer important psychological milestones in the first half of 2026. In particular, the price of silver is expected to reach the $100/ounce mark in the near future.
Explaining this upward trend, Cawley emphasized that the resurgence of geopolitical tensions in the Middle East is driving demand for safe-haven assets. "As investors move away from the US dollar amid volatility, demand for safe-haven assets continues to increase," the expert analyzed.
Despite a fairly positive medium-term outlook, experts are still advising caution for investors. After surpassing its all-time high last month, the silver market is entering a period of high volatility, requiring close monitoring of macroeconomic indicators to make appropriate trading decisions.