Silver Rises in Vietnam, SLV, and Silver Miners
Silver surged across domestic and international markets on Sept. 18, with local bars and bullion at Phu Quy, DOJI and Bao Tin Minh Chau all posting higher quotes as investors rushed back into precious metals.
The move matters because silver is doing more than tracking gold — it is acting as a levered play on lower rates, dollar weakness and renewed appetite for hard assets. When silver catches a bid, it often tells you the market is pricing in easier financial conditions and stronger demand for inflation hedges, not just festive buying at home.
In Vietnam, Phu Quy lifted its 999 silver bar to 2.229 million dong per tael for buying and 2.298 million dong for selling, while its 1-kilogram bar rose to 59.439 million dong and 61.279 million dong, respectively. DOJI priced 99.9 silver at 2.298 million dong to buy and 2.398 million dong to sell, putting the market in the 2.2 million-2.4 million dong range. Bao Tin Minh Chau also raised its Ag 999 quotes, underscoring a broad-based move rather than a one-off adjustment.
That strength is showing up in global vehicles too. The iShares Silver Trust, or SLV, closed at 59.93, up from 58.97 the prior session and well above its 50-day moving average of 56.81, while RSI readings improved to 49.7. The Global X Silver Miners ETF, SIL, climbed to 95.2 from 95.01 and has been trending above its 50-day average of 87.6, a sign that both the metal and the mining equities are responding to the same macro impulse.
The macro backdrop is doing the heavy lifting. Benchmark U.S. 10-year Treasury yields were little changed around 4.98% after recent volatility, but the broader setup still favors precious metals as investors reassess the path of real rates. At the same time, crude oil remains elevated above $107 a barrel in the latest data, keeping inflation anxiety alive and supporting demand for stores of value.
For investors, the key is that silver often outperforms late in a metals cycle because it combines monetary demand with industrial exposure. That makes it a high-beta way to express a view on Fed easing, dollar pressure and the next leg of the commodity trade. The market underestimates how quickly silver can reprice once momentum turns.
The tradable read-through is clear: physical silver dealers, silver miners and silver ETFs are the obvious beneficiaries, while short-duration cash holders and consumers buying bars in the spot market pay the higher cost. If this rally holds, the next catalyst will be confirmation that gold’s rebound is feeding a broader precious-metals rotation, not just a one-day bounce.
| Entity | Gains | Losses |
|---|---|---|
| Silver bars/dealers | ▲Higher selling prices | ▼Wider buy-sell spreads for buyers |
| SLV and SIL holders | ▲Price momentum | ▼Late-entry risk |
| Silver miners | ▲Better revenue leverage | ▼Cost inflation risk |
| Physical buyers | ▲Inflation hedge access | ▼Higher entry cost |