Silver bullion could follow gold onto MXV trading floor

March 20, 2026 | 08:00

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Silver bullion could be listed on the Vietnam Mercantile Exchange as authorities move to standardise trading and establish a transparent pricing mechanism.

Photo: Thoibaotaichinhvietnam.vn

On March 19, the Department of Domestic Market Management and Development under the Ministry of Industry and Trade, together with the Vietnam Mercantile Exchange (MXV), businesses, and banks, convened to discuss plans for listing and trading silver bullion.

According to MXV, the roadmap for listing silver will be implemented in two phases. In the initial pilot stage, silver bullion will be traded domestically with both exchange transactions and physical delivery. Once the market stabilises, the system is expected to gradually integrate with regional and international commodity exchanges.

Major gold and silver traders – including Phu Quy Group, Bao Tin Manh Hai, Bao Tin Minh Chau, Saigon Jewelry Company SBJ, and Digi Invest – have expressed readiness to ensure production capacity and physical delivery. These firms are expected to play key roles in supply, custody, and trading operations.

Globally, silver prices have risen in line with broader precious metals trends, reaching a peak of nearly $108.6 per ounce on January 26. Domestically, silver bullion prices have also seen strong fluctuations, at one point exceeding $4,400 per kilogram, before easing to around $3,100 per kilogram.

Silver trading in Vietnam is largely conducted through direct transactions between parties. However, this fragmented model lacks a centralised pricing mechanism and standardised product and information frameworks, posing risks for both investors and businesses.

Tran Huu Linh, director general of the Department of Domestic Market Management and Development, noted that demand for silver trading has been on the rise.

“The proposal to list silver on MXV aims to gradually standardise trading activities amid strong price volatility and wide fluctuations,” he said.

Nevertheless, he stressed that implementation requires comprehensive evaluation to ensure transparency, system safety, and the protection of market participants. Authorities will assess economic and social impacts, while also considering risk management mechanisms such as position limits, speculation controls, and measures to safeguard market stability.