Silver Price This Morning Traded at US$31,165 per Troy Ounce (Tuesday, September 17, 2024)
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Investing.com reports that the price of silver today rose 0.21 percent to US$31.165 per troy ounce. This price increase is relatively high compared to the average price movement over the past week.
Today's price movement is the highest this week at 0.21 percent. It has strengthened by 29.58 percent compared to its year-to-date position.
The current situation is similar to the silver price movement in the last 24 hours, which is on an upward trend.
Over the past week, the price of silver has grown by 8.77 percent, with an average daily transaction price of US$30.32 per troy ounce. According to Katadata Insight Center (KIC) calculations, year-to-date (YTD), the price of silver has increased by 29.58 percent. The highest trading value for silver this year was US$31.225 per troy ounce, which occurred on Sunday, September 15, 2024.
Annually, the average trading price of silver 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 increase. The highest average monthly price for silver was recorded in September 2024 at US$29.43 per troy ounce.
Silver is a non-corrosive metal, considered a precious metal with high value. Although its price is still far below that of 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 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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