Silver Prices Rise to US$24.59 per Troy Ounce (Wednesday, December 6, 2023)

Investing.com reports that the price of silver today rose 0.16 percent to US$24.59 per troy ounce. This price increase is relatively high compared to the average price movement over the past week.

Today's price movement is the highest in the last week at 0.16 percent. It shows a strengthening of 1.06 percent compared to the beginning of the year.

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

Over the past week, silver price movements slowed by 2.83 percent, with an average daily transaction price of US$25.31 per troy ounce. Compared to its position 30 days ago, the price of silver has grown by 7.89 percent. The highest trading value for silver this year was US$26.36 per troy ounce, which occurred on Thursday, May 4, 2023.

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 for silver was recorded in December 2023 at US$25.21 per troy ounce.

Silver is a type of non-corrosive metal, considered a precious metal with high market value. Although its price is still far 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.