Silver Price Falls to US$22.77 per Troy Ounce (Thursday, December 8, 2022)

Silver prices fell on Thursday, December 8, 2022. Today's silver price traded at US$22.77 per troy ounce, lower than the previous day's US$22.89 per troy ounce. This is similar to the previous upward trend in silver prices.

Over the past week, silver prices have grown by 4.53 percent, with an average daily transaction price of US$22.85 per troy ounce. As a result, throughout 2022, silver prices have fallen by 0.19 percent from their year-start level of US$22.81 per troy ounce. From its highest price this year of US$26.89 per troy ounce, silver prices have fallen by 15.35 percent.

Annually, the average silver price trade over the past five years has shown an upward trend. Meanwhile, monthly price monitoring over the past 12 months shows a downward trend. 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 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).

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