Silver Price OutlookSilver prices dropped notably over the past month due to rising U.S. 10-year bond yield rates and tepid demand from the industrial sector. Silver traded at USD 22.7 per troy ounce on 7 October, which was down 7.0% from the same day last month. Moreover, the price was 14.1% lower on a year-to-date basis and was down 4.4% from the same day a year prior. Silver prices continued to slump in recent weeks, hitting an over one-year low at the start of October. A more hawkish Federal Reserve gave way to higher U.S. 10-year rates, which raised the opportunity cost of holding a non-interest bearing asset and pushed silver prices lower. Moreover, growth in the industrial sector remained relatively subdued. In September, the JPMorgan global manufacturing PMI remained at August’s six-month low due to ongoing supply disruptions and input shortages, which should have weighed on industrial demand for silver and exerted further downward pressure on prices.
Silver Price History Data (USD per troy ounce, aop)
Price forecasts and historical data for Energy, Metals and Agricultural Commodities.
Silver Historical Price Chart
Price forecasts and historical data for Energy, Metals and Agricultural Commodities
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