Historical dataset of real (inflation-adjusted) silver prices per ounce back to 1915. The series is deflated using the headline Consumer Price Index (CPI) with the most recent month as the base. The current month is updated on an hourly basis with today's latest value.

Silver increased 4.76 USD/t. oz or 16.49% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Silver - values, historical data, forecasts and news - updated on March of 2025.

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

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.

The price of an ounce of silver increased sharply in 2021, rising around 17 percent from January 28 to February 1. The cause of this increase is attributed to retail investors mobilized via social media with the intention of causing losses to professional investors, similar to the rise in the stock price of video game retailer GameStop, and the stock price of cinema operator AMC several days beforehand. As of midnight July 18, 2023, the price of silver was trading at 24.9 U.S. dollars per troy ounce.

According to Cognitive Market Research, the global silver bullion market size is USD XX million in 2024 and will expand at a compound annual growth rate (CAGR) of 4.00% from 2024 to 2031.

North America held the major market of more than 40% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 2.2% from 2024 to 2031.
Europe accounted for a share of over 30% of the global market size of USD XX million.
Asia Pacific held the market of around 23% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.0% from 2024 to 2031.
Latin America market of more than 5% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.4% from 2024 to 2031.
Middle East and Africa held the major market of around 2% of the global revenue with a market size of USD XX million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.7% from 2024 to 2031.
The US had the most significant global silver bullion market revenue share in 2024.

Market Dynamics of Silver Bullion Market

Key Drivers of Silver Bullion Market

Increasing Demand for Safe Haven Investments

The increasing wish for safe haven investments is driving the market for silver bullion to continue growing. Investors look for assets that deliver stability and wealth preservation throughout difficult economic, geopolitical, and market situations. Due to its inherent worth and historical importance as a wealth vault, silver is drawing more and more attention from investors trying to diversify their holdings and protect themselves from inflation and currency depreciation. The COVID-19 pandemic's aftereffects, trade disputes, and geopolitical tensions have all contributed to the current state of the global economy, which has raised investor anxieties and increased demand for silver bullion. Concerns about possible inflationary pressures are developing as governments execute large stimulus programs and central banks adopt loose monetary policies; this is pushing investors into physical assets like silver.

Increasing Industrial Applications Will Promote Market Expansion

The market for silver bullion is also expected to rise significantly due to the growing number of industrial uses. Due to its special qualities, which include its high conductivity, malleability, and resistance to corrosion, silver is used in a wide range of industries, including electronics, healthcare, automotive, and renewable energy. The industrial demand for silver is anticipated to grow in the upcoming years due to technological developments and advancements boosting demand in developing applications including solar panels, electric vehicles, and 5G technology. Silver's industrial demand is further bolstered by its antibacterial characteristics, which render it increasingly desirable in therapeutic applications. The market for silver bullion is expected to increase steadily as long as industries keep innovating and creating new goods that need silver. Investors who are eager to profit from the growing industrial need for this precious metal will be drawn to this market.

Restraint Factors Of Silver Bullion Market

Volatility in Precious Metal Prices will hinder market growth.

The price volatility of precious metals can have a substantial impact on the development of the silver bullion market. The price of silver can vary due to changes in currency values, geopolitical tensions, and global economic conditions. Investors get indeterminate as a result of these swings, which could make them unwilling to buy silver bullion. Investors who bought silver at higher prices may lose money as a result of abrupt price reductions, which could affect market liquidity and confidence. Businesses that use silver as a raw resource, such as manufacturers, face difficulties due to the unpredictable nature of silver pricing. Businesses may find it challenging to correctly manage expenses and plan production schedules in the face of shifting silver prices. Price variations can disrupt the supply chain, as suppliers and buyers are driving the changing market conditions.

Market participants may use hedging techniques or look for alternate investments to lessen the impact of price volatility, which could result in money being taken out of...

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 2016, approx. 72K tons of silver were imported worldwide- coming down by -5.6% against the previous year figure. In general, silver imports continue to indicate a moderate decline. The pace of gr...

Historical dataset of nominal and real (inflation-adjusted) gold prices per ounce back to 1915. The series is deflated using the headline Consumer Price Index (CPI) with the most recent month as the base. The current month is updated on an hourly basis with today's latest value.

According to Cognitive Market Research, the global Silver Catalyst market size is USD 4162.5 million in 2024. It will expand at a compound annual growth rate (CAGR) of 7.90% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 1665.00 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.1% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 1248.75 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 957.38 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.9% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 208.13 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.3% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 83.25 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.6% from 2024 to 2031.
Grain held the highest Silver Catalyst market revenue share in 2024.

Market Dynamics of Silver Catalyst Market

Key Drivers for Silver Catalyst Market

Rising Chemical Industry to Drive the Market Growth

One of the biggest end-user markets for silver catalysts is the chemical sector. The catalyst is widely used in the synthesis of several different compounds, including formaldehyde, methanol, and ethylene oxide. As more chemicals are processed globally, the chemical industry is growing, which in turn is driving the expansion of the market. For example, the June 2021 Mid-Year US Chemical Industry Outlook study projects that in 2022, chemical volumes in the US will increase by 3.2%, while shipments are expected to increase by 8.2%. In a similar vein, the India Brand Equity Foundation's statistics indicate that 18–23% revenue growth is projected for FY22 among small and medium-sized businesses in the country's chemical industry.

Growing Electronics Industry to Propel Market Growth

The electronic industry represents a significant market for silver catalysts. This industry uses a lot of catalyst to produce formaldehyde and ethylene oxide, which are then used to make a variety of electronic components like electrical control knobs, computer key tops, household appliance components, and electrical insulating materials. The market is expanding as a result of the growing demand for electronic products, which is driving expansion in the electronic industry. For example, the German Electro and Digital Industry Association's Global Electric Market Outlook 2022 study states that South Korea's electronic industry achieved a volume of USD 218.01 billion in 2020, increasing by 4%.

Restraint Factor for the Silver Catalyst Market

High Cost and Availability of Alternatives to Limit the Sales

The price of silver catalysts can be affected by changes in the value of silver, a precious metal with substantial worth. The usage of silver catalysts may be restricted by their high cost when compared to alternatives due to high raw material costs. Moreover, there are additional catalysts that can be used in industrial processes, such as catalysts based on nickel, palladium, and platinum. There may be less demand for silver catalysts if these substitutes are chosen because they are more affordable or have different performance qualities.

Impact of Covid-19 on the Silver Catalyst Market

The COVID-19 pandemic had a severe effect on the global market for silver catalysts. During the epidemic, issues including a shortage of supplies and the temporary closure of manufacturers emerged, which hampered the market's expansion. The market participants put in place a number of backup strategies to ensure that their businesses continued to run during the pandemic. The market's growth was also hindered by the stagnating growth in a number of end-use industries, including construction and the automobile sector. By the end of 2020, the market for silver catalysts was growing at an acceptable pace due to the growth of other end-use industries including electronics and drugs. The market is anticipated to increase rapidly in the future because of the significant expansion in the electronics and chemicals industries. Introduction of the Silver Catalyst Marke...

Spot Price: Central Bank of Oman: Gold per Ounce: Buy data was reported at 1,157.810 OMR in 25 Mar 2025. This records a decrease from the previous number of 1,159.190 OMR for 24 Mar 2025. Spot Price: Central Bank of Oman: Gold per Ounce: Buy data is updated daily, averaging 524.757 OMR from Dec 2007 (Median) to 25 Mar 2025, with 3798 observations. The data reached an all-time high of 1,171.010 OMR in 20 Mar 2025 and a record low of 0.105 OMR in 02 Jan 2022. Spot Price: Central Bank of Oman: Gold per Ounce: Buy data remains active status in CEIC and is reported by Central Bank of Oman. The data is categorized under World Trend Plus’s Commodity Market – Table OM.P001: Gold and Silver Spot Price. [COVID-19-IMPACT]

NCDEX: Spot Price: Silver: New Delhi: First Session data was reported at 98,592.250 INR/kg in 26 Mar 2025. This records an increase from the previous number of 97,087.400 INR/kg for 25 Mar 2025. NCDEX: Spot Price: Silver: New Delhi: First Session data is updated daily, averaging 87,767.000 INR/kg from Jan 2024 (Median) to 26 Mar 2025, with 303 observations. The data reached an all-time high of 100,194.150 INR/kg in 18 Mar 2025 and a record low of 68,902.900 INR/kg in 14 Feb 2024. NCDEX: Spot Price: Silver: New Delhi: First Session data remains active status in CEIC and is reported by National Commodity & Derivatives Exchange Limited. The data is categorized under India Premium Database’s Price – Table IN.PB001: Commodities Spot Price: National Commodity & Derivatives Exchange Limited.

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.

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.

Bullion Price: Monthly Average: Mumbai: Silver data was reported at 89,265.000 INR/kg in Dec 2024. This records a decrease from the previous number of 90,230.000 INR/kg for Nov 2024. Bullion Price: Monthly Average: Mumbai: Silver data is updated monthly, averaging 19,351.000 INR/kg from Apr 1990 (Median) to Dec 2024, with 417 observations. The data reached an all-time high of 93,352.000 INR/kg in Oct 2024 and a record low of 5,554.000 INR/kg in Mar 1993. Bullion Price: Monthly Average: Mumbai: Silver data remains active status in CEIC and is reported by Reserve Bank of India. The data is categorized under Global Database’s India – Table IN.PG002: Memo Items: Bullion Price.

Explore the top import markets for silver and the key statistics behind their import values. Learn about the leading countries in the global trade of silver and the factors driving their demand. Gain insights from the IndexBox market intelligence platform.

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

In May 2023, the price of unwrought silver in the United Kingdom, CIF, increased by 11% to $754K per ton compared to the previous month.

The annual average of London fix price for one ounce of silver in 2023 was 23.35 USD U.S. dollars. The global silver industry Silver is a soft, white, malleable metal that has the highest electrical and thermal conductivity of all metals. Silver is most commonly used to make coins, jewelry, and silverware. It is typically produced as a byproduct of copper, gold, lead, and zinc refining. The estimated global mine production of silver in 2023 was 26,000 metric tons. The leading country in silver production in 2023 was Mexico. In that year, Mexico produced about 6,400 metric tons of silver. Peru had the largest silver reserves worldwide, amounting to 110,000 metric tons as of 2023. Silver in the United States Silver exports from the United States have been fluctuating since 2008. In 2023, the United States exported about 80 metric tons of silver, a significant decrease from the 946 metric tons they exported in 2012. U.S. imports of silver for consumption, meanwhile, amounted to 4,700 metric tons in 2023.

High Frequency Indicator: The dataset contains year- and month-wise compiled data on the average prices of Gold (Standard) and Silver at Mumbai in India