Silver Price Rises Towards US$60.428 per Troy Ounce (Thursday, 08 October 2026)
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Silver price for Thursday, 08 October 2026 transactions increased. Today's silver trading price is recorded at US$60.428 per troy ounce. This figure is higher than the previous trading day which stood at US$60.05 per troy ounce. Current conditions are similar to silver price movements over the last one day which are on a downward trend.
Over the past week, silver price movement grew by -0.23% with an average daily transaction price of US$60.85 per troy ounce. According to Katadata Insight Center (KIC) calculations, on a year-to-date (ytd) basis, this silver price has contracted by -14.91%. Meanwhile, throughout this year, the highest trading value for the silver commodity was ever transacted at US$115.15 per troy ounce, which occurred on Monday, 26 January 2026.
On an annual basis, the average silver trading price over the last five years is on an upward trend. Meanwhile, for monthly price monitoring, transactions over the last 12 months have tended to contract. The highest monthly average price for the silver commodity was recorded in January 2026 at US$93.97 per troy ounce.
Factors Affecting Silver Price
Silver has two roles: a safe haven asset similar to gold, as well as an industrial metal for solar panels and electronics. Therefore its price is affected by economic uncertainty, interest rate directions, solar energy demand, and the gold-silver ratio.
What is Silver and Why is Its Price Monitored?
Silver is a globally traded precious metal that often moves in line with gold. Besides jewellery and investment purposes, its industrial demand is increasing along with the expansion of solar energy and electronics.
Why Can Silver Prices Rise or Fall Today?
(Read: Copper Price Traded This Morning at US$6.64 /Pound (Wednesday, 07 October 2026))
Daily silver prices are influenced by gold movements, US central bank interest rate directions, US dollar strength, and industrial demand such as for solar panels. Over the last 30 days, the silver price trend has tended to decline (weakening).
Indonesia's silver medal contributors at the Aichi-Nagoya 2026 Asian Games came from the teqball branch. as reported by Katadata "one silver medal and five bronze medals" were collected by the contingent as of Monday (21/9).
Pure silver is currently still subject to 12% VAT, unlike gold bullion which has been exempted from this tax. as reported by Katadata "this difference in tax treatment makes the silver industry less competitive compared to gold bullion."
"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."
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