Silver Price Falls to US$22.47 per Troy Ounce (Thursday, December 1, 2022)

Silver prices fell on Thursday, December 1, 2022. Today's silver price traded at US$ 22.47 per troy ounce, lower than the previous day's US$ 22.56 per troy ounce. This current condition is similar to the previous upward trend in silver prices.

Over the past week, silver prices have grown by 5.15 percent, with an average daily transaction price of US$ 21.64 per troy ounce. According to Katadata Insight Center (KIC) calculations, year-to-date (YTD), silver prices have fallen by 1.5 percent. Compared to its highest price this year of US$ 26.89 per troy ounce, silver prices have fallen by 16.46 percent.

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

According to records from the Ministry of Energy and Mineral Resources (ESDM), some silver-producing regions in Indonesia include Bengkalis Regency (Riau), Bontang City (East Kalimantan), Pulau Laut (South Kalimantan), Sambas Regency (West Kalimantan), and Bolaang Mongondow Regency (North Sulawesi).

Indonesia had silver ore reserves of 2.8 billion tons in 2020. These reserves are estimated to last 214 years (until 2234).