On 24/2, DOJI Gold & Gems Group introduced its investment silver products to the market for the first time. These products include one and 5 tael options. The company is distributing them at transaction points in Hanoi and Ho Chi Minh City, with plans to expand to Da Nang, Hai Phong, and other major cities in the future. Customers can purchase DOJI's silver directly at its store network or through the eGold application.
With this move, DOJI becomes the 4th major brand to supply domestic investment silver products, joining Phu Quy, Sacombank - SBJ, and Ancarat.
A DOJI representative stated that public demand for physical silver as an asset continues to grow. However, the market has lacked standardized products in terms of weight and quality. The entry of a major enterprise, supported by a wide distribution system and transparent pricing, is expected to help the market develop more professionally.
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DOJI's investment silver products were introduced to the market on 24/2. *Photo: DOJI*
Domestic investment silver products have recently gained prominence as investors seek new profit channels, particularly with gold prices high and difficult to access. However, investor demand currently exceeds the production capacity of companies. Consequently, silver buyers must wait 3-6 months to receive their orders after placing a deposit.
Experts caution that silver prices are highly volatile, tending to rise and fall more rapidly than gold prices. Therefore, silver is not a suitable investment option for non-professional speculative traders or those who invest with borrowed money.
Following the Lunar New Year, domestic silver is currently trading at 3,3-3,4 million Vietnamese dong per tael, which is equivalent to 88-90 million Vietnamese dong per kg. This price level is 25% lower than the record set at the end of January.
Forecasting silver price trends, the strategic research department at JP Morgan Bank suggests that silver could establish a new, higher price level compared to previous periods. Under their base scenario, the average silver price this year is forecast to be around 81 USD per ounce.
Meanwhile, Citigroup (Citi) offers a more optimistic short-term forecast. At the end of January, the bank estimated that silver prices could reach 150 USD per ounce within three months. This potential increase is attributed to technical factors and supply-demand dynamics in the precious metals market. Citi believes silver still has room for price appreciation as capital seeks opportunities in safe-haven assets.
Quynh Trang
