DOJI, a renowned jewelry retail chain, recently joined the ranks of the nation’s silver bar distributors, making it the fourth such establishment in the country. The company initiated the sale of one- and five-tael silver bars in the cities of Hanoi and HCMC on Tuesday, with plans for expansion into Da Nang City and Hai Phong City. It’s notable to mention that a tael is a unit of measurement equivalent to 37.5 grams or 1.2 ounces.
Customers are given the option to either purchase from DOJI’s physical stores or use the company’s eGold app to shop online. The company expressed that there has been a rapid increase in demand for physical silver as a store of wealth. However, the market is experiencing a shortage of standardized products, particularly regarding weight and quality.
As it stands, the silver bar market is serviced by three other distributors, Phu Quy Silver, Sacombank, and Ancarat. Despite the growing popularity of silver bars, market analysts have issued warnings regarding the volatility of silver prices. They noted that price fluctuations for silver tend to be more drastic compared to gold, which may make it less suitable for novice short-term traders and those employing leverage.
Following the Lunar New Year holidays, silver has been trading at VND3.4 million (US$126.21) per tael, which is 25% below the record high it reached at the end of January. The average price forecast for the metal this year is $81 per ounce, as per the prediction of a major banking institution. This is more than double the 2025 figure.
Another financial institution provided a more optimistic short-term forecast at the close of January, suggesting that silver could potentially reach $150 within three months. This prediction was attributed to technical factors and developments in supply and demand.
What is the latest addition to DOJI’s offerings?
DOJI has recently started selling one- and five-tael silver bars, becoming the country’s fourth distributor of this product.
What has led to the increased demand for physical silver?
The surge in demand for physical silver is largely due to its appeal as a store of wealth. However, the market currently lacks standardized products in terms of weight and quality.
What are the current predictions for silver prices?
A major banking institution projects an average price of $81 per ounce this year, more than double the 2025 figure. Another financial institution anticipates that silver could reach $150 within three months due to technical factors and supply-demand developments.
