DOJI, a major jewelry chain, has become the country’s fourth distributor of silver bars.
It started selling one- and five-tael bars in Hanoi and HCMC Tuesday and plans to expand to Da Nang City and Hai Phong City, it said in a statement. A tael equals 37.5 grams or 1.2 ounces.
DOJI silver bars. Photo courtesy of DOJI |
Customers can buy at its stores or online via its eGold app. The company said demand for physical silver as a store of wealth has risen rapidly, but the market lacks standardized products in terms of weight and quality.
The three existing silver bar distributors are Phu Quy Silver, Sacombank and Ancarat.
Analysts caution that silver is highly volatile, with its prices rising and falling more sharply than that of gold, making it a less than suitable option for inexperienced short-term traders and those using leverage.
After the Lunar New Year holidays silver has been trading at VND3.4 million (US$126.21) per tael, 25% below the record level it had reached at the end of January.
JP Morgan Bank forecast an average price of $81 per ounce for the metal this year, more than double the 2025 figure.
Citigroup had a more optimistic short-term forecast, saying at the end of January that silver could reach $150 within three months, driven by technical factors and supply-demand developments.
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