Silver Prices Rise for the Past Four Days

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Agus Dwi Darmawan 29/10/2022 10:43 WIB

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Silver Prices Over the Past Three Months

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Silver Prices Rise for the Past Four Days

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Silver Prices Over the Past Three Months

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Silver prices rose in transactions on Friday, October 28, 2022. Today's silver price traded at US$19.58 per troy ounce. This is higher than the previous day's trade, which was at US$19.52 per troy ounce. This current condition completes the silver price movement in the last four days, which has been in a shrinking trend.

Over the past week, silver prices have grown by 4.78 percent, with an average daily transaction price of US$19.38 per troy ounce. According to Katadata Insight Center (KIC) calculations, year-to-date (YTD), the silver price has shrunk by -14.15 percent. The highest trading value for silver commodities this year was transacted at US$26.89 per troy ounce, which occurred on Tuesday, March 8, 2022.

Annually, the average silver price trade over the past five years has been on an upward trend. Meanwhile, for monthly price monitoring, transactions in the last 12 months have tended to decline. The highest average monthly price for silver commodities was recorded in March 2022 at US$25.46 per troy ounce.

Silver is a type of non-corrosive metal, making it considered a precious metal with high market value. Although its price is still far below gold, silver is often favored as a raw material for various products, such as jewelry.

Citing Statista, Mexico is the world's largest silver producer. Silver production in that country reached 178.1 million ounces in 2020.

Indonesia ranks 16th as the world's largest silver producer. Recorded silver production in Indonesia was 8.3 million ounces last year.

"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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Silver Prices Rise for the Past Four Days

Silver Prices Rise for the Past Four Days

Silver Prices Rise for the Past Four Days

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