Vietnam has no silver shortage: industry expert

Silver supply in Vietnam remains abundant, Anh said, attributing the recent trend of delayed delivery – where buyers pay upfront but receive physical silver three to six months later – to production capacity.

Anh explained that silver is currently far cheaper than gold, prompting some customers to place exceptionally large orders, sometimes amounting to tens of thousands of units.

Such volumes take up a significant share of a factory’s output, making it impossible for any single producer to fulfill all orders immediately.

As a result, deferred delivery has become common.

Vietnam’s silver market is fully integrated with the global market.

Domestic companies are permitted to import raw silver and typically work with multiple international partners.

Raw material supply is more than sufficient to meet market demand, he affirmed.

While there have been reports of physical silver shortages worldwide, Anh said these shortages are localized and price-specific rather than absolute.

Singapore and Hong Kong normally maintain ample silver stocks to serve the Asian market.

When demand spikes and inventories in the two markets are depleted, silver must be shipped from major hubs like London or New York, extending delivery times.

Such situations represent temporary tightness rather than a true lack of supply, as global silver reserves remain plentiful.

Meanwhile, China stands out as an exceptionally large silver market, possibly the largest in the world.

Much of China’s silver is held in long-term accumulation, with holders reluctant to sell, pushing domestic prices above global levels.

Demand for silver hoarding in China is so extensive that it is difficult to quantify, he said.

Recently, China has begun importing more silver or drawing supplies from other regions to meet this demand.

Compared with China, Vietnam’s silver market is small.

Silver holdings among the public are limited, and the number of domestic silver manufacturers is modest, constraining their ability to respond quickly to surges in demand.

Globally, only about 17 percent of silver is considered liquid, including silver held by individuals or in storage.

The remainder is embedded in industrial applications such as electronic components, electric vehicle batteries, and solar panels.

This structural limitation has fueled waves of buying driven by fear of missing out on price gains, not only in Vietnam, but worldwide.

Gold presents a stark contrast.

More than 50 percent of global gold supply is liquid and tradable, making its price movements generally slower and less volatile than silver’s.

Silver prices, by comparison, tend to rise sharply and fall just as fast, making the current price cycle particularly difficult to predict.

“We still maintain cash reserves to accommodate investors who wish to sell back their silver holdings,” Anh said.

When liquidity needs to be transferred to international markets, overseas suppliers and partners are ready to repurchase silver from Vietnam.

Gold market outlook

The gold market has also seen dramatic volatility.

On Friday and Saturday, global gold prices suffered a historic plunge, falling from US$5,600 per ounce to $4,889.4 per ounce.

In Vietnam, SJC-branded gold bullion prices fell from a peak selling price of VND191.3 million ($7,373) per tael to VND172 million ($6,634) last week, a decline of nearly VND20 million ($770) per tael, or 37.5 grams.

The rate dropped further to VND167 million ($6,430) per tael on Monday morning.

This marked the sharpest drop in months and has rattled investors.

Prices of 9999 gold rings also slid to around VND171 million ($6,607) per tael on the selling side and VND168 million ($6,491) per tael on the buying side.

Analysts have likened the recent plunge to a market ‘reset’ after excessive speculation and overheating.

Global gold prices in January alone had already exceeded forecasts for the entire year of 2026, triggering profit-taking.

From a technical perspective, several indicators had signaled that gold was overbought, making a correction inevitable.

Some experts warn that prices could continue to fall.

However, analyst Tran Duy Phuong believes that after such a steep decline, gold may rebound this week.

Still, he cautions that once prices recover to around $5,070 per ounce, they could come under renewed downward pressure.