Silver Price Falls to US$30.415 per Troy Ounce (Thursday, September 19, 2024)
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Investing.com reports that the price of silver today fell 0.26 percent to US$30.415 per troy ounce. This price drop is relatively significant compared to the average price movement over the past week.
Today's price movement, a 0.26 percent decrease, is the highest weekly decline. However, it still represents a 26.47 percent increase compared to its year-to-date position.
This current situation follows a four-day upward trend in silver prices.
Over the past week, silver prices have risen by 5.14 percent, with an average daily transaction price of US$30.78 per troy ounce. Compared to its price 30 days ago, the price of silver has increased by 7.9 percent. Even from its yearly high of US$31.225 per troy ounce, the price of silver has only fallen by 2.59 percent.
Annually, the average trading price of silver over the past five years shows an upward trend. Meanwhile, monthly price monitoring shows an upward trend in transactions over the past 12 months. The highest average monthly price for silver was recorded in September 2024 at US$29.54 per troy ounce.
Silver is a non-corrosive metal, considered a precious metal with high value. Although its price remains significantly lower than gold, silver is popular as a raw material for various products, such as jewelry.
According to Statista, Mexico is the world's largest silver producer. Silver production in the country reached 178.1 million ounces in 2020.
Indonesia ranks 16th as the world's largest silver producer. Recorded silver production in Indonesia last year was 8.3 million ounces.
"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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