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Silver prices rose in transactions on Wednesday, September 11, 2024. Today's silver price traded at US$28.81 per troy ounce. This figure is higher than the previous day's trade, which was at US$28.762 per troy ounce. The current situation reverses the downward trend in silver prices over the past four days.
Over the past week, silver prices have grown by 1.64 percent, with an average daily transaction price of US$28.62 per troy ounce. Compared to the price at the beginning of the year, the silver price has grown by 19.79 percent. Even from its highest price this year at US$30.453 per troy ounce, the silver price has fallen by 5.4 percent.
Annually, the average silver price trade over the past five years has been on 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 commodities was recorded in August 2024 at US$29 per troy ounce.
Silver is a type of non-corrosive metal, making it considered a precious metal with high market value. Although its price is still far below gold, silver is often favored 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.
"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."
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