Silver Prices

Silver prices averaged USD 65.61 per troy ounce in August, up 11.3% from July. On 31 August, the commodity traded at USD 66.95 per troy ounce, up 16.7% from 31 July.

In August, silver recorded its sharpest monthly gain since January, marking the first increase in average prices in three months. The white metal benefited from dollar weakness and the broader precious-metals rally; safe-haven demand rose amid concerns over the U.S. fiscal outlook. The Treasury’s expansion of long-term bond buybacks briefly lowered Treasury yields and the USD, while raising concerns over government debt and fiscal deficits. Strong industrial demand will have provided further support.