Silver Prices Rise to US$23.38 per Troy Ounce (Friday, December 16, 2022)

Silver prices rose in transactions on Friday, December 16, 2022. Today's silver price traded at US$ 23.38 per troy ounce. This figure is higher than the previous day's trade, which was at US$ 23.3 per troy ounce. The current condition is similar to the previous silver price movement, which is in an upward trend.

Over the past week, silver prices have grown by 0.58 percent, with an average daily transaction price of US$ 23.64 per troy ounce. According to Katadata Insight Center (KIC) calculations, year-to-date (YTD), the silver price has increased by 2.5 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 decrease. The highest average monthly price for silver commodities was recorded in March 2022 at US$ 25.46 per troy ounce.

In 2020, Indonesia recorded silver ore reserves of 2.8 billion tons. The lifespan of these reserves is estimated to be up to 214 years (until 2234).

Some 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).