Silver Price Falls to US$24.71 per Troy Ounce (Friday, December 22, 2023)

Silver prices fell on Friday, December 22, 2023. Today's silver price traded at US$24.71 per troy ounce, lower than the previous day's US$24.75 per troy ounce. This reflects the ongoing downward trend in silver prices.

Over the past week, silver prices increased by 1.35 percent, with an average daily trading price of US$24.39 per troy ounce. As a result, silver prices have risen 1.59 percent in 2023 from their year-opening level of US$24.33 per troy ounce. However, compared to its yearly high of US$26.36 per troy ounce, silver prices have fallen 6.23 percent.

The five-year average annual silver trading price shows an upward trend. Monthly trading data over the past 12 months also indicates an upward trend. The highest average monthly price for silver was recorded in April 2023 at US$25.19 per troy ounce.

The Ministry of Energy and Mineral Resources (ESDM) also notes that Indonesia had silver ore reserves of 2.8 billion tons in 2020. These reserves are estimated to last until 2234 (214 years).

Several 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).