Silver Prices Fall for Three Consecutive Days

Silver prices fell on Monday, November 28, 2022. Today's silver price traded at US$21.19 per troy ounce, lower than the previous day's US$21.29 per troy ounce. This is similar to the upward trend in silver prices over the past three days.

Over the past week, silver prices have increased by 0.79 percent, with an average daily transaction price of US$21.24 per troy ounce. Compared to the beginning of the year, however, the silver price has slowed by 7.1 percent. The highest trading value for silver this year was US$26.89 per troy ounce, recorded on Tuesday, March 8, 2022.

Annually, the average silver price trade over the past five years has shown an upward trend. However, 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 the Ministry of Energy and Mineral Resources (ESDM), some 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).

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