At a recent meeting, Tran Huu Linh, director of the domestic market department under the ministry of industry and trade, said demand for silver trading has risen in recent years, alongside sharp and unpredictable price swings.
He said listing silver on exchanges should be studied to gradually standardise transactions, while ensuring transparency, system safety and protection for market participants.
Globally, silver prices have surged in line with gains in other precious metals. In Vietnam, bullion prices have reached VND 111 million (about USD 4,200) per kilogramme, reflecting rising investor interest.
Most transactions in Vietnam currently take place through direct deals between buyers and sellers, lacking centralised pricing, standardised product information and risk management tools.
Linh said this fragmented model exposes individuals, investors and businesses to greater risks.
Listing silver on the commodity exchange could help establish a centralised market with transparent pricing and risk-hedging mechanisms, while aligning domestic practices with international standards.
He added that any rollout must be carefully assessed, including its economic and social impacts, alongside measures such as position limits to curb excessive speculation and ensure market stability.
The Mercantile Exchange of Vietnam has proposed a two-phase approach, starting with a pilot domestic listing involving physical transactions, followed by potential integration with regional and international exchanges once operations stabilise.
Industry representatives said they are prepared to meet production and delivery requirements, though current silver supply still depends largely on imports.