Silver Price OutlookSilver prices picked up over the past month, likely on the back of healthy Chinese industrial production activity in September. Silver traded at USD 25.5 per troy ounce on 6 November, which was up 7.0% from the same day last month. Moreover, the price was 42.4% higher on a year-to-date basis and was up 44.5% from the same day a year prior. Silver prices were supported in recent weeks by healthy Q3 data from China, which showed industrial production grew robustly, suggesting healthy demand for silver for its use in industrial purposes. Moreover, manufacturing PMI data for major economies such as China, Japan and the U.S. all pointed to improvements in manufacturing activity at the outset of Q4, which should have further signaled upbeat silver demand and pushed prices higher. In addition, the USD lost some ground as investors began pricing in a Biden election victory, and stronger fiscal stimulus measures in turn, thus raising demand for silver as an investment to stave off inflationary pressures amid strong monetary stimulus globally.
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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