Silver Price Falls to US$24.98 per Troy Ounce (Thursday, November 30, 2023)

Investing.com notes that the price of silver today fell 0.13 percent to US$24.98 per troy ounce. This price drop is relatively significant compared to the average price movement over the past week.

This week, the price of silver saw its highest surge on Monday, November 27, 2023, at 1.15 percent. It has strengthened by 2.67 percent compared to its year-to-date position.

The current situation is similar to previous silver price movements, which have been in an upward trend.

Over the past week, the price of silver grew by 5.51 percent, with an average daily transaction price of US$24.58 per troy ounce. Compared to its position 30 days ago, the price of silver has grown by 9.57 percent. Even from its highest price this year at US$26.36 per troy ounce, the price of silver has fallen by 5.24 percent.

Annually, the average trading price of silver over the past five years has been in an upward trend. Meanwhile, for monthly price monitoring, transactions in the last 12 months have tended to increase. The highest average monthly price of silver was recorded in April 2023 at US$25.19 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 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).