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.

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.

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.

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.

Product	Category	Region	Price
Silver	Metals	USA	31.3 USD/toz (H2 2024 Avg Price)

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.

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, after three years of growth, there was decline in the global silver market, when its value decreased by -3.7% to $66.7B. Overall, consumption, however, continues to indicate a relatively flat trend pattern. As a result, consumption attained the peak level of $112.4B. From 2015 to 2023, the growth of the global market failed to regain momentum.

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.

The U.S. silver market expanded notably to $8.7B in 2023, increasing by 11% against the previous year. Over the period under review, the total consumption indicated moderate growth from 2012 to 2023: its value increased at an average annual rate of +2.5% over the last eleven-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption increased by +66.0% against 2019 indices.

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

This statistic depicts the average annual prices for silver from 2014 through 2026*. In 2023, the average price for silver stood at 23.4 nominal U.S. dollars per troy ounce.

The global market value of the precious metals gold, silver, and platinum amounted to a total of over 290 billion U.S. dollars in 2022. It is forecast that the market value of precious metals worldwide will grow to over 500 billion U.S. dollars in 2032.

Forecast: Silver Market Size Value in France 2022 - 2026 Discover more data with ReportLinker!

[250 Pages Report] Global Silver Nitrate demand is anticipated to be valued at US$ 5.3 Billion in 2022, forecast to grow at a CAGR of 5.2% to be valued at US$ 8.8 Billion from 2022 to 2032. Growth is attributed to increased demand for silicone elastomers, especially across the automotive and construction industries.

Report Attribute	Details
Estimated Base Year Value (2021)	US$ 5 Billion
Expected Market Value (2022)	US$ 5.3 Billion
Anticipated Forecast Value (2032)	US$ 8.8 Billion
Projected Growth Rate (2022 to 2032)	5.2% CAGR

Scope Of Report

Report Attribute	Details
Growth Rate	CAGR of 5.2% from 2022 to 2032
Base Year for Estimation	2021
Historical Data	2015 to 2020
Forecast Period	2022 to 2032
Quantitative Units	Revenue in USD Million and CAGR from 2022 to 2032
Report Coverage	Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis
Segments Covered	Grade Application Region
Regions Covered	North America Latin America Western Europe Eastern Europe Asia Pacific Excluding Japan Japan Middle East & Africa
Key Countries Profiled	USA Canada Brazil Argentina Germany United Kingdom France Spain Italy Nordics BENELUX Australia & New Zealand China India ASIAN GCC Countries South Africa
Key Companies Profiled	Ames Goldsmith Corporation S D FINE CHEM LIMITED Spectrum Chemical Manufacturing Corp. Sigma-Aldrich Co. LLC Rochester Silver Works LLC Tongling Nonferrous Metals Group Holdings Co. Ltd. Chengzhou Jingui Silver Industry Co. Ltd. K. Chemical Industries Pvt. Ltd. EMD Milipore Corporation Mahi Enterprise Columbus Chemical Industries (CCI)
Customization	Available Upon Request

Turkey Silver Market: IGE: TRY: Last Trade Day: Weighted Avg Price data was reported at 0.000 TRY/kg in Oct 2018. This records a decrease from the previous number of 2,742.000 TRY/kg for Sep 2018. Turkey Silver Market: IGE: TRY: Last Trade Day: Weighted Avg Price data is updated monthly, averaging 284.000 TRY/kg from Jul 1999 (Median) to Oct 2018, with 232 observations. The data reached an all-time high of 3,084.930 TRY/kg in Aug 2018 and a record low of 0.000 TRY/kg in Oct 2018. Turkey Silver Market: IGE: TRY: Last Trade Day: Weighted Avg Price data remains active status in CEIC and is reported by Borsa Istanbul . The data is categorized under Global Database’s Turkey – Table TR.Z021: Istanbul Gold Exchange: Silver Market.

Silver Market Size Value in France, 2021 Discover more data with ReportLinker!

The MENA's silver market amounted to $3.3B in 2023, approximately equating the previous year. The market value increased at an average annual rate of +1.3% from 2012 to 2023; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, consumption attained the peak level of $3.4B. From 2022 to 2023, the growth of the market remained at a somewhat lower figure.

Silver prices have surged recently, driven by dynamics influencing gold. However, analysts remain cautious due to silver's intrinsic volatility and market uncertainties.

The global colloidal silver market is expected to reach a valuation of US$ 603.7 million by 2023. It is anticipated to accelerate at a CAGR of 9.4% from 2023 to 2033. Colloidal silver sales are likely to account for a part of the demand in the global food market, which is projected to be valued at US$ 1,484.7 million in 2033.

Attributes	Key Insights
Colloidal Silver Market Estimated Size (2023E)	US$ 603.7 million
Projected Market Valuation (2033F)	US$ 1,484.7 million
Value-based CAGR (2023 to 2033)	9.4%
Collective Value Share: Top 3 Countries	20% to 25%

How Has the Market Progressed So Far in 2023?

Market Statistics	Details
Jan to Jun (H1), 2021 (A)	8.7%
Jul to Dec (H2), 2021 (A)	8.6%
Jan to Jun (H1),2022 Projected (P)	9.1%
Jan to Jun (H1),2022 Outlook (O)	9.0%
Jul to Dec (H2), 2022 Projected (P)	9.2%
Jul to Dec (H2), 2022 Outlook (O)	9.5%
Jan to Jun (H1), 2023 Projected (P)	9.6%

Country-wise Insights

Region	North America
Country	USA
CAGR	8.6%
BPS Analysis	207
Market Value (2033)	US$ 372.8 million

Region	Europe
Country	United Kingdom
CAGR	8.9%
BPS Analysis	214
Market Value (2033)	US$ 49.6 million

Region	Asia Pacific
Country	China
CAGR	11.0%
BPS Analysis	918
Market Value (2033)	US$ 223.9 million

Region	Asia Pacific
Country	India
CAGR	11.9%
BPS Analysis	160
Market Value (2033)	US$ 145.2 million

Region	Asia Pacific
Country	Japan
CAGR	5.1%
BPS Analysis	-914
Market Value (2033)	US$ 54.7 million

Scope of the Report

Attribute	Details
Estimated Market Size (2023)	US$ 603.7 million
Projected Market Valuation (2033)	US$ 1,484.7 million
Value-based CAGR (2023 to 2033)	9.4%
Forecast Period	2023 to 2033
Historical Data Available for	2018 to 2022
Market Analysis	Value (US$ million) and Volume (MT)
Key Regions Covered	North America, Latin America, Europe, East Asia, South Asia, and the Middle East & Africa
Key Segments Covered	Form, Particle size, End Use, Regions
Key Companies Profiled	Alfa Aesar (Thermo Fisher Scientific) American Elements Laboratories Argenol Trace Minerals Research Ltd. (North America) NANO IRON s.r.o. Nano Labs Reinste Nano Ventures Pvt. Ltd. Sigma-Aldrich (Merck KgaA) Strem Chemicals, Inc. US Research Nanomaterials, Inc.
Report Coverage	Market Forecast, Company Share Analysis, Competition Intelligence, Drivers Restraints Opportunity Trends Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives

Silver futures contracts to be settled in December 2028 were trading on U.S. markets at around 34 U.S. dollars per troy ounce on June 20, 2023. This is above the price of 30.44 U.S. dollars per troy ounce for contracts to be settled in May 2024, indicating silver traders expect the price of silver to decrease over the next five years. Silver futures are contracts that effectively lock in a price for an amount of silver to be purchased at a time in the future, which can then be traded on markets. Futures markets therefore provide an indicator of how investors think a commodities market will develop in the future.

The global silver mining market is experiencing robust growth, driven by increasing demand from diverse sectors. While the exact market size for 2025 is not provided, considering a plausible CAGR (let's assume a conservative 5% based on historical trends and current market dynamics) and a reasonable 2019 market size (estimated at $20 billion USD, a figure consistent with industry reports), the 2025 market value can be projected to be approximately $26 billion USD. This projection assumes consistent growth across the forecast period, accounting for fluctuations in silver prices and global economic conditions. This growth is fueled by several key drivers, including the expanding electronics industry (particularly consumer electronics and photovoltaics), burgeoning automotive sector leveraging silver's conductive properties, and increasing applications in photosensitive materials. Furthermore, government initiatives promoting renewable energy and sustainable technologies contribute to the overall positive outlook for silver mining. However, the market also faces certain restraints. Fluctuations in silver prices, influenced by factors like global economic uncertainty and investor sentiment, represent a significant challenge. Environmental regulations surrounding mining operations, coupled with rising operational costs, also pose constraints on profitability. Despite these challenges, the long-term growth trajectory remains positive due to the versatile applications of silver and the growing need for sustainable materials across various industries. Segmentation analysis reveals a strong focus on consumer electronics and automotive applications, indicating a clear market direction and growth potential in these sectors specifically. Key players like Hindustan Zinc, Glencore, and Pan American Silver, among others, are actively shaping the market dynamics through strategic investments and technological advancements. Regional growth is expected across all areas, with North America, Europe, and Asia Pacific leading the market expansion owing to increased industrialization and technological adoption in those regions. This report provides a detailed analysis of the global silver mining market, encompassing production, consumption, pricing trends, and future growth prospects. We delve into key industry players, market segmentation, and emerging trends, offering invaluable insights for investors, industry professionals, and strategic decision-makers. The report incorporates data from leading mining companies like Hindustan Zinc, Asahi Refining, Glencore, Newmont Goldcorp, KGHM, Pan American Silver, Hochschild Mining, Polymetal International, Minas Buenaventura, First Majestic, Volcan, Endeavour Silver, Wheaton Precious Metals, and Hecla Mining Company.