Silver Price OutlookSilver prices were broadly unchanged over the last month and continued lingering at the bottom end of a four-month trading range. On 11 May, silver closed the trading day at USD 16.8 per troy ounce, which was down 0.3% from the same day in April. While the price was down 1.5% on a year-to-date basis, it was 3.3% higher than on the same day in 2017. Strong industrial demand for silver has kept prices on a steady course. Demand has been fueled by expansions in the photovoltaic and semi-conductor markets, including an upturn in silver offtake in electrical and electronics applications. The use of silver in solar photovoltaic panels has continued to grow rapidly and at a pace that exceeded even optimistic projections. Moreover, solid performances in the manufacturing sectors of key global economies have helped power demand for silver in industrial uses. Falling supply from mines, along with declining global silver scrap supply, is expected to tighten the market and exert upward pressure on prices this year. Increasing fabrication demand, along with higher jewelry and silverware demand, should also lead to higher prices for silver. Safe-haven demand from investors for the precious metal could also pick up amid a volatile geopolitical backdrop, providing a further boost to 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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