Silver Prices

Silver prices averaged USD 36.09 per troy ounce in June, up 9.6% from May. On 30 June, the commodity traded at USD 36.05 per troy ounce, up 8.1% from 30 May.

In June, silver prices extended May’s gains, rising at the fastest pace in over a year to hit a more than decade high. The price ratio between gold and silver remained at some of the highest levels in the post-Covid era so far this year, boosting silver’s value relative to gold and the former’s demand in turn. Escalating tensions in the Middle East and a weaker USD added upward pressure to prices, fueling investors’ appetite for safe-haven assets and making silver cheaper.