Silver Prices

Silver prices averaged USD 42.67 per troy ounce in September, up 11.5% from August. On 30 September, the commodity traded at USD 46.15 per troy ounce, up 17.7% from 29 August.

Silver prices rose at the fastest pace among precious metals for a second consecutive month in September. The increase was driven by the Fed’s decision to cut rates on 17 September, which fueled investor demand. Moreover, the threat of a U.S. government shutdown from a failed funding deal bolstered safe-haven demand, propelling silver prices to a 14-year high.