Gold, silver prices increase as investment demand surges

Gold, silver prices increase as investment demand surges

SJC gold bars have gained VNĐ10 million per tael in just two weeks while silver prices jumped 29 per cent, driving strong investor interest in the domestic market.

People queue to buy silver at Phú Quý's jewellery store in Hà Nội. — Photo laodong.vn

Gold and silver prices in Việt Nam surged to record highs on Wednesday, tracking global markets as rapid gains fueled investment demand. 

SJC gold bars traded at VNĐ160.9-162.9 million (US$6,188-6,265) per tael in Hà Nội in the morning, up VNĐ900,000 from Tuesday. The metal has gained 6.6 per cent since early January, adding over VNĐ10 million per tael in two weeks.

Silver climbed faster. Phú Quý Corporation quoted one-kilogramme bars at VNĐ89.9-92.7 million ($3,458-3,565), up 29 per cent since the year began. The sharp price increases have attracted strong investor interest in the domestic market.

In the global market, gold reached $4,620 per ounce on Tuesday after touching $4,631 during Monday's US session. Silver hit $90 per ounce, its highest level ever.

Central bank buying is the primary driver. The People's Bank of China purchased gold for 14 consecutive months through December, adding 28.5 tonnes. That lifted China's gold reserves to $319.45 billion from $191.34 billion a year earlier.

Brazil, Finland and Turkey also bought heavily in late 2025, according to IMF data. Official sector purchases exceeded long-term averages.

According to analysts at Deutsche Bank, high gold prices have yet to diminish the appetite for gold accumulation among reserve managers.

State Street experts noted the buying reflects a lasting shift in reserve management away from US Treasuries toward physical gold.

US inflation data provided additional support. Core CPI rose 0.2 per cent in December, below the 0.3 per cent forecast. The softer reading boosted expectations for Federal Reserve rate cuts this year.

Silver's surge also reflects industrial demand from AI data centers, renewable energy and high-tech manufacturing.

Christopher Lewis of FX Empire said silver could reach $100 per ounce, a level considered impossible for two decades.

Gold gained 65 per cent in 2025 while silver jumped 145 per cent. Both metals rose 7 per cent and 20 per cent respectively in early 2026. 

Bizhub