Silver Prices Rise to US$24.63 per Troy Ounce (Monday, November 27, 2023)

Silver prices rose for transactions on Monday, November 27, 2023. Today's silver price trading is recorded at US$ 24.63 per troy ounce. This figure is higher than the previous day's trading, which was at US$ 24.39 per troy ounce. The current condition completes the upward trend in silver prices over the past four days.

Over the past week, silver prices have grown by 4.08 percent, with an average daily transaction price of US$ 24.04 per troy ounce. Compared to its position 30 days ago, the price of silver has grown by 6.66 percent. Even from its highest price this year at US$ 26.36 per troy ounce, the price of silver has fallen by 6.54 percent.

Annually, the average silver price trading 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 of silver was recorded in April 2023 at US$ 25.19 per troy ounce.

The Ministry of Energy and Mineral Resources (ESDM) also notes that Indonesia had silver ore reserves of 2.8 billion tons in 2020. The lifespan of these reserves is estimated to be up to 214 years (until 2234).

Several silver-producing areas in Indonesia include Bengkalis Regency (Riau), Bontang City (East Kalimantan), Pulau Laut (South Kalimantan), Sambas Regency (West Kalimantan), and Bolaang Mongondow Regency (North Sulawesi).