Dataset of historical annual silver prices from 1970 to 2022, including significant events and acts that impacted silver prices.

During the last quarter of 2024, the silver prices in the USA reached 31.3 USD/toz (H2 2024 Avg Price) in December. As per the silver price chart, prices surged during the latter half of 2024, largely influenced by the Federal Reserve’s interest rate cuts, which diminished the dollar. This shift made silver an attractive investment, particularly as a lower-cost alternative to gold.

Explore IMARC’s newly published report, titled “Silver Prices, Trend, Chart, Demand, Market Analysis, News, Historical and Forecast Data Report 2025 Edition,” offers an in-depth analysis of silver pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

Dataset of historical annual gold prices from 1970 to 2024, including significant events and acts that impacted gold prices.

The price of gold per troy ounce increased considerably between 1990 and 2024, despite some fluctuations. A troy ounce is the international common unit of weight used for precious metals and is approximately 31.3 grams. At the end of 2024, a troy ounce of gold cost 2,386.2 U.S. dollars. Price of – additional information In 2000 the price of gold was at its lowest since 1990, with a troy ounce of gold costing 274.5 U.S. dollars in that year. Since then gold prices have been rising and after the economic crisis of 2008 the price of gold rose at higher rates than ever before as the market began to see gold as an increasingly good investment. History has shown that time and time again, gold is seen as a good investment in times of uncertainty because it can or is thought to function as a good store of value against a declining currency as well as providing protection against inflation. However unlike other commodities, once gold is mined it does not get used up like other commodities (for example, such as gasoline). So while gold may be a good investment at times, the supply demand argument does not apply to gold. Nonetheless, the demand for gold has been mostly consistent.

This statistic depicts the average monthly prices for silver worldwide from January 2014 through January 2025. In January 2025, the average monthly price for silver worldwide stood at 30.41 nominal U.S. dollars per troy ounce.

Rhodium price data, historical values, forecasts, and news provided by Money Metals Exchange. Rhodium prices and trends updated regularly to provide accurate market insights.

Gold and silver prices increased over the course of 2021, but these did not grow as fast as the prices of iridium and, especially, rhodium. According to a comparison of price indices, the price for rhodium - a precious metal similar to platinum and used especially in catalytic converters of cars - was ten times higher in April 2021 than it was in January 2019. The price hike for rhodium was apparently caused by coronavirus-related lockdowns implemented in South Africa, where mining companies had to close for several weeks.

About This Dataset: Copper Prices and Market Trends

    This dataset provides **insights into copper prices**, including current rates, historical trends, and key factors affecting price fluctuations. Copper is essential in **construction**, **electronics**, and **transportation** industries. Investors, traders, and analysts use accurate copper price data to guide decisions related to **trading**, **futures**, and **commodity investments**.

    ### **Key Features of the Dataset**

    #### **Live Market Data and Updates**
    Stay updated with the latest **copper price per pound** in USD. This data is sourced from exchanges like the **London Metal Exchange (LME)** and **COMEX**. Price fluctuations result from **global supply-demand shifts**, currency changes, and geopolitical factors.

    #### **Interactive Copper Price Charts**
    Explore **dynamic charts** showcasing real-time and historical price movements. These compare copper with **gold**, **silver**, and **aluminium**, offering insights into **market trends** and inter-metal correlations.

    ### **Factors Driving Copper Prices**

    #### **1. Supply and Demand Dynamics**
    Global copper supply is driven by mining activities in regions like **Peru**, **China**, and the **United States**. Disruptions in production or policy changes can cause **supply shocks**. On the demand side, **industrial growth** in countries like **India** and **China** sustains demand for copper.

    #### **2. Economic and Industry Trends**
    Copper prices often reflect **economic trends**. The push for **renewable energy** and **electric vehicles** has boosted long-term demand. Conversely, economic downturns and **inflation** can reduce demand, lowering prices.

    #### **3. Impact of Currency and Trade Policies**
    As a globally traded commodity, copper prices are influenced by **currency fluctuations** and **tariff policies**. A strong **US dollar** typically suppresses copper prices by increasing costs for international buyers. Trade tensions can also disrupt **commodity markets**.

    ### **Applications and Benefits**

    This dataset supports **commodity investors**, **traders**, and **industry professionals**:

    - **Investors** forecast price trends and manage **investment risks**. 
    - **Analysts** perform **market research** using price data to assess **copper futures**. 
    - **Manufacturers** optimize supply chains and **cost forecasts**.

    Explore more about copper investments on **Money Metals**:

    - [**Buy Copper Products**](https://www.moneymetals.com/buy/copper) 
    - [**95% Copper Pennies (Pre-1983)**](https://www.moneymetals.com/pre-1983-95-percent-copper-pennies/4) 
    - [**Copper Buffalo Rounds**](https://www.moneymetals.com/copper-buffalo-round-1-avdp-oz-999-pure-copper/297)

    ### **Copper Price Comparisons with Other Metals**

    Copper prices often correlate with those of **industrial** and **precious metals**:

    - **Gold** and **silver** are sensitive to **inflation** and currency shifts. 
    - **Iron ore** and **aluminium** reflect changes in **global demand** within construction and manufacturing sectors.

    These correlations help traders develop **hedging strategies** and **investment models**.

    ### **Data Variables and Availability**

    Key metrics include:

    - **Copper Price Per Pound:** The current market price in USD. 
    - **Copper Futures Price:** Data from **COMEX** futures contracts. 
    - **Historical Price Trends:** Long-term movements, updated regularly. 

    Data is available in **CSV** and **JSON** formats, enabling integration with analytical tools and platforms.

    ### **Conclusion**

    Copper price data is crucial for **monitoring global commodity markets**. From **mining** to **investment strategies**, copper impacts industries worldwide. Reliable data supports **risk management**, **planning**, and **economic forecasting**.

    For more tools and data, visit the **Money Metals** [Copper Prices Page](https://www.moneymetals.com/copper-prices).

In 2023, the average nominal price of silver in India was 61,981 Indian rupees for one kilogram, which was a decrease of over 14,000 rupees from the previous year. India was the world's 11th largest silver mining country as of 2021.

In 2025, the price of platinum is forecast to hover around 1,150 U.S. dollars per troy ounce. Meanwhile, the cost of per troy ounce of gold is expected to amount to 1,700 U.S. dollars.

Precious metals

Precious metals are counted among the most valuable commodities worldwide. The most well known such metals are gold, silver and the platinum group metals. A precious metal can be used as an industrial commodity or as an investment. The major areas of application include the following sectors: technology, car-making, industrial manufacturing and jewelry making. Furthermore, gold and silver are used as coinage metals, and gold reserves are held by the central banks of many countries worldwide in order to store value or for use as a redemption medium. The idea behind this procedure is that gold reserves will help secure and stabilize the countries’ respective currencies. At 8,100 tons, the United States is the country with the most extensive stock of gold. It is kept in an underground vault at the New York Federal Reserve Bank.

Russia, the United States, Canada, South Africa and China are the main producers of precious metals. Silver is the most abundant of the metals, followed by gold and palladium. Barrick Gold is the world’s largest gold mining company. The Toronto-based firm produced some five million ounces of gold in 2020. The leading silver producers include Mexico-based Fresnillo, Poland’s KGHM Polska Miedž and the mining giant Glencore. Anglo Platinum and Impala are the key mining companies to produce platinum group metals.

In 2023, Silver prices are expected to settle at around 23.5 U.S. dollars per troy ounce. It is expected to remain the precious metal with the lowest value per ounce. The price of gold is forecast to drop to around 1,663 U.S. dollars per ounce, making it the most expensive precious metal in 2023.

Between January 1971 and March 2024, gold had average annual returns of 7.98 percent, which was only slightly behind the return of commodities, with an annual average of eight percent. The annual average return of gold in 2023 was 13.1 percent. What is the total global demand for gold? The global demand for gold remains robust owing to its historical importance, financial stability, and cultural appeal. During economic uncertainty, investors look for a safe haven, while emerging markets fuel jewelry demand. A distinct contrast transpired during COVID-19, when the global demand for gold experienced a sharp decline in 2020 owing to a reduction in consumer spending. However, the subsequent years saw an increase in demand for the precious metal. How much gold is produced worldwide? The production of gold depends mainly on geological formations, market demand, and the cost of production. These factors have a significant impact on the discovery, extraction, and economic viability of gold mining operations worldwide. In 2024, the worldwide production of gold was expected to reach 124 million ounces, and it is anticipated that the rate of growth will increase as exploration technologies improve, gold prices rise, and mining practices improve.

COMEX is a division of the CME Group. It is one of the primary futures and options trading platforms for metals, including gold, silver, copper, and aluminum.

According to Cognitive Market Research, The Global Gold Mining market size is USD 202515.2 million in 2023 and will expand at a compound annual growth rate (CAGR) of 3.80% from 2023 to 2030.

The demand for Gold Mining is rising due to the technological advancements in exploration and extraction and rising demand for gold in various industries.
Demand for Hardrock (LODE) mining remains higher in the Gold Mining market.
The Investment category held the highest Gold Mining market revenue share in 2023.
North American Gold Mining will continue to lead, whereas the Asia Pacific Gold Mining market will experience the most substantial growth until 2030.

How did COVID–19 impact the Gold Mining market?

The COVID-19 pandemic had a multifaceted impact on the Gold Mining market. Initially, the global economic uncertainty and financial market volatility triggered a surge in demand for gold as a safe-haven asset, driving up gold prices. However, the pandemic also disrupted mining operations worldwide due to lockdowns, supply chain interruptions, and workforce limitations. The implementation of social distancing measures and health protocols led to operational slowdowns and, in some cases, temporary halts in gold mining activities. Additionally, travel restrictions hindered exploration and development projects. Despite these challenges, the resilience of gold as a safe investment during uncertain times sustained market interest.

MARKET DYNAMICS: KEY DRIVERS

Global Economic Conditions and Gold Prices to Provide Viable Market Output

The Gold Mining market is significantly influenced by global economic conditions and the prevailing prices of gold. Economic uncertainties, geopolitical tensions, and inflation concerns often drive investors towards gold as a safe-haven asset. Consequently, higher demand for gold results in increased exploration, production, and investment in the gold mining sector. Fluctuations in gold prices directly impact the profitability of gold mining operations, influencing production decisions and exploration activities.

March 2023: Pan American Silver Corporation acquired all the issued and outstanding common shares of Yamana Gold Inc., as part of the arrangement, which includes its mines and increased the geographical operations of the company in Latin America.

Growing population with high income and demand for gold jewellery to propel market growth

Technological Advancements in Exploration to Propel Market Growth

One key driver in the Gold Mining market is the continuous advancement of technology in exploration methods. Innovative technologies, such as remote sensing, geophysical surveys, and advanced drilling techniques, enhance the efficiency and precision of gold exploration. These technological advancements not only contribute to the discovery of new gold deposits but also improve the accuracy of resource estimation. The integration of artificial intelligence and data analytics further enhances decision-making processes, allowing gold mining companies to optimize exploration efforts, reduce exploration risks, and maximize the discovery of economically viable gold reserves.

February 2023: Barrick Gold, the world's second-biggest gold producer, announced a 10% increase in attributable proved and probable gold mineral reserves to 76 million ounces net of depletion in 2022 while maintaining current reserves..

Environmental and Regulatory Challenges to Restrict Market Growth

Environmental and regulatory challenges emerge as significant restraints in the Gold Mining market. Stringent environmental regulations and increased scrutiny on the impact of mining activities on ecosystems pose hurdles for gold mining companies. Compliance with environmental standards necessitates sophisticated waste management and reclamation practices, adding operational complexities and costs. Additionally, securing permits for exploration and mining activities becomes a prolonged process, causing delays.

The Gold Mining market refers to the sector of the mining industry dedicated to the exploration, extraction, refining, and commercialization of gold. Gold mining involves various processes, from prospecting and geological assessments to the extraction of gold-bearing ores and the subsequent processing of extracted materials to obtain refined gold. Market is fuled by technological advancements in exploration and extraction and rising demand for gold ...

NYMEX is a commodity futures exchange operating as part of the CME Group and primarily trades energy and metal contracts. NYMEX is known for trading futures contracts for crude oil, natural gas, heating oil, gasoline, and other energy products, as well as contracts for metals such as gold, silver, copper, and aluminum.

As of December 2024, U.S. stocks had an average 10-year return rate of 13.1 percent, whereas gold had a return rate of 8.33 percent. Gold mining overview In light of recent technological advancements shaping the gold mining market, global gold production has been rather stable in the last few years, hovering around 3,000 metric tons since 2020. Among nations, Australia holds the highest gold production, surpassing countries with the highest mine gold reserves. Gold as a financial security Known for its ability to provide diversification to investment portfolios, gold has exhibited a positive trend in its Gold’s return rate was particularly high in the early 2000s, and, despite experiencing a decline during the pandemic, it demonstrated a remarkable recovery since. Furthermore, gold serves as a valuable asset for a nation's economic stability, with the United States holding the highest amount of

The price of cigarettes in the United Kingdom has substantially increased each year since 2000. In 2022, the average retail price of a 20 pack of cigarettes was 12.61 British pounds.

Cigarette taxes

As of 2022, the most expensive country in which to purchase cigarettes in Europe was Ireland, with the UK in second place. Cigarette prices across Europe are driven by the respective taxes imposed within each of the member states and consist of a specific duty per thousand cigarettes and an ad valorem rate onto the recommended retail price, in addition to value added tax (VAT). Thus, the highest rates of taxation are reflected in the retail prices. Governments that impose such strong barriers to the purchasing of tobacco are considered 'nanny states', with high levels of control on other factors, such as advertising, bans of tobacco products on retail displays and graphic warnings on cigarette packs.

UK tobacco industry

The sales of tobacco in the UK has generally been decreasing since 2005. As of 2022, the annual expenditure was at about 21.3 billion British pounds, marking an overall decrease of over 40 percent compared to expenditure in 2005. However, despite the high taxes in the UK and the decrease in expenditure, the revenue of the tobacco industry is expected to grow in coming years. By 2027, the tobacco products market is forecast to have a revenue of about 25.6 billion British pounds.