Silver Price This Morning Traded at US$23.3 per Troy Ounce (Monday, January 8, 2024)

Silver prices for Monday, January 8, 2024, decreased. Today's silver trading price is recorded at US$23.3 per troy ounce. This figure is lower than the previous day's trading price of US$23.3 per troy ounce. This situation completes the downward trend in silver prices over the past two days.

Over the past week, silver prices have fallen by 3.02 percent, with an average daily trading price of US$23.47 per troy ounce. As a result, throughout 2024, silver prices have fallen by 3.12 percent from their year-opening position of US$24.05 per troy ounce. In fact, from its highest price this year of US$24.05 per troy ounce, silver prices have fallen by 3.12 percent.

Annually, the average silver trading price over the past five years has shown 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 April 2023 at US$25.19 per troy ounce.

Silver is a non-corrosive metal, considered a precious metal with high value. Although its price remains significantly 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 last year was 8.3 million ounces.