Silver fell to 38.33 USD/t.oz on August 14, 2025, down 0.48% from the previous day. Over the past month, Silver's price has risen 1.66%, and is up 35.15% compared to the same time last year, 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 August 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 June 2025. In June 2025, the average monthly price for silver worldwide stood at ***** nominal U.S. dollars per troy ounce.

This statistic depicts the average annual prices for silver from 2014 through 2026*. In 2024, the average price for silver stood at 28.3 nominal U.S. dollars per troy ounce.

GOLD & SILVER PRICES : 1791 - 2020

Yearly prices of the two infamous Ornamental Metals

Content

4 Columns namely Year,Gold Price, Silver Price,Ratio of Gold and Silver prices.

Prices of Gold and Silver in years 1791 to 2020. A column for Gold/Silver is also provided. The prices are in New York Market Price. U.S. dollars per fine ounce

Acknowledgements

For data : www.measuringworth.com/datasets/gold/result.php For correction and validation : www.finfacts.ie/Private/curency/goldmarketprice.htm , https://sdbullion.com/silver-price-history

In 2024, the average nominal price of silver in India was ****** Indian rupees for one kilogram, which was an increase of over ****** rupees from the previous year, and the highest figure during the period of consideration.

In 2023, supplies from abroad of silver including silver plated with gold or platinum was finally on the rise to reach 7.8K tons for the first time since 2020, thus ending a two-year declining trend.

In 2024, the global silver market was finally on the rise to reach $65.1B for the first time since 2021, thus ending a two-year declining trend. Overall, consumption showed a relatively flat trend pattern. As a result, consumption reached the peak level of $65.6B. From 2022 to 2024, the growth of the global market failed to regain momentum.

Chile Average Price: Silver: COMEX data was reported at 32.226 USD/Troy oz in 14 May 2025. This records a decrease from the previous number of 32.388 USD/Troy oz for 12 May 2025. Chile Average Price: Silver: COMEX data is updated daily, averaging 21.240 USD/Troy oz from Jan 2005 (Median) to 14 May 2025, with 5127 observations. The data reached an all-time high of 48.580 USD/Troy oz in 29 Apr 2011 and a record low of 11.740 USD/Troy oz in 18 Mar 2020. Chile Average Price: Silver: COMEX data remains active status in CEIC and is reported by Chilean Copper Commission. The data is categorized under Global Database’s Chile – Table CL.P001: Average Price: Metals. [COVID-19-IMPACT]

The dataset shows average price in domestic and foreign markets of gold and silver

Note: 1. The data source for this Table for the period till 1999-2000 are Bombay Bullion Association and Press Trust of India. For the period 2000-01 onwards, the data sources are (i) Business Standard/ Business Line and Economic Times, Mumbai/IBJA Website for gold and silver price in Mumbai and LBMA for gold price in London and (ii) Thomson Reuters for silver price in New York. 2. Data provided in this Table for the period 1979-80 to 1999-2000 and 2000-01 to 2020-21 may not be strictly comparable due to different sources of information.

In 2025, the price of platinum is forecast to hover around ***** U.S. dollars per troy ounce. Meanwhile, the cost of per troy ounce of gold is expected to amount to ***** 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 ***** 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 **** 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 **** 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 ***** U.S. dollars per ounce, making it the most expensive precious metal in 2023.

In 2024, the Japanese silver market was finally on the rise to reach $1.6B for the first time since 2021, thus ending a two-year declining trend. The market value increased at an average annual rate of +1.0% from 2012 to 2024; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $1.9B. From 2022 to 2024, the growth of the market remained at a lower figure.

This dataset tracks annual reduced-price lunch eligibility from 2002 to 2020 for Silver High School vs. New Mexico and Silver City School District

Germany Commodity Price: Precious Metals: Silver data was reported at 32.585 USD/Troy oz in 15 May 2025. This records an increase from the previous number of 32.161 USD/Troy oz for 14 May 2025. Germany Commodity Price: Precious Metals: Silver data is updated daily, averaging 19.573 USD/Troy oz from Jan 2013 (Median) to 15 May 2025, with 3135 observations. The data reached an all-time high of 34.800 USD/Troy oz in 22 Oct 2024 and a record low of 11.859 USD/Troy oz in 18 Mar 2020. Germany Commodity Price: Precious Metals: Silver data remains active status in CEIC and is reported by Deutsche Börse Group. The data is categorized under Global Database’s Germany – Table DE.P: Commodity Prices. [COVID-19-IMPACT]

South Korea PPI: Silver bullion data was reported at 200.860 2020=100 in Mar 2025. This records an increase from the previous number of 193.290 2020=100 for Feb 2025. South Korea PPI: Silver bullion data is updated monthly, averaging 112.805 2020=100 from Dec 2016 (Median) to Mar 2025, with 100 observations. The data reached an all-time high of 200.860 2020=100 in Mar 2025 and a record low of 66.460 2020=100 in Sep 2018. South Korea PPI: Silver bullion data remains active status in CEIC and is reported by The Bank of Korea. The data is categorized under Global Database’s South Korea – Table KR.I045: Producer Price Index: 2020=100.

In 2024, the Mexican silver market decreased by -6.2% to $1.6B, falling for the second year in a row after two years of growth. In general, consumption, however, saw a relatively flat trend pattern. As a result, consumption reached the peak level of $2.2B. From 2020 to 2024, the growth of the market remained at a somewhat lower figure.

In 2020, the value of Chinese silver exports amounted to 2.5 billion U.S. dollars. That was an increase of approximately 900 million U.S. dollars compared to the previous year.

Uruguay: Silver production in metric tones: The latest value from 2020 is 1100 metric tons, a decline from 1113 metric tons in 2019. In comparison, the world average is 3296 metric tons, based on data from 72 countries. Historically, the average for Uruguay from 2016 to 2020 is 1555 metric tons. The minimum value, 1100 metric tons, was reached in 2020 while the maximum of 2022 metric tons was recorded in 2016.

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Precious Metals Market Size 2025-2029

The precious metals market size is forecast to increase by USD 105.3 billion, at a CAGR of 6.4% between 2024 and 2029. The market is characterized by its role as a safe haven in times of economic instability. Amid increasing global uncertainty, investors continue to seek refuge in precious metals, driving market demand.

Major Market Trends & Insights

APAC dominated the market and accounted for a 44% share in 2023.
The market is expected to grow significantly in North America region as well over the forecast period.
Based on the Type, the gold segment led the market and was valued at USD 110.60 billion of the global revenue in 2023.
Based on the Application, the industrial segment accounted for the largest market revenue share in 2023.

Market Size & Forecast

Market Opportunities: USD 289.40 Billion
Future Opportunities: USD 105.3 Billion
CAGR (2024-2029): 6.4%
APAC: Largest market in 2023

The market continues to evolve, driven by diverse applications across various sectors. Refining byproducts serve as crucial inputs in numerous industries, such as silver halide photography and catalytic converters. Metal corrosion resistance makes precious metals indispensable in secondary refining processes, dental gold alloys, and jewelry manufacturing techniques. Industry growth expectations remain robust, with precious metal trading projected to expand by 5% annually. For instance, the gold refining process has seen significant advancements in metal purity standards, leading to the production of investment-grade bullion. Silver recovery methods have also improved, enabling higher yields from ore processing methods. Platinum group metals, including palladium, find extensive applications in chemical extraction methods, electroplating processes, and electronic components.

What will be the Size of the Precious Metals Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2019-2023 and forecasts 2025-2029 - in the full report.
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Metal futures contracts provide a vital platform for precious metal investment, allowing market participants to hedge against spot price fluctuations. Metallurgical analysis plays a pivotal role in understanding metal alloy composition and assaying techniques, ensuring consistent product quality. Meanwhile, mining production data and metal refining technology continue to advance, enhancing mine efficiency and reducing production costs. An illustrative example of market dynamics can be seen in the silver market, where the price increased by 30% in 2020 due to increased industrial demand and reduced mine production. Precious metal recycling and platinum electrode fabrication further contribute to the market's continuous unfolding. The silver segment is the second largest segment of the type and was valued at USD 102.90 billion in 2023.

However, this market is not without challenges. The growing focus on Environmental, Social, and Governance (ESG) factors poses significant obstacles. Specifically, concerns over the environmental impact of mining and extraction processes are gaining prominence, potentially leading to increased regulations and operational challenges for market participants. Companies must navigate these regulatory hurdles while also addressing social concerns, such as labor rights and community engagement, to maintain a positive market reputation.

In addition, governance issues, including transparency and ethical sourcing, continue to be critical considerations for investors. To capitalize on market opportunities and effectively manage these challenges, companies must prioritize sustainable practices, robust stakeholder engagement, and transparent reporting. By doing so, they can not only mitigate risks but also differentiate themselves in a competitive market landscape.

How is the Precious Metals Industry segmented?

The precious metals industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Type

  Gold
  Silver
  Platinum


Application

  Industrial
  Jewelry
  Investment


End-use Industry

  Jewelry Manufacturing
  Automotive (Catalytic Converters)
  Electronics
  Chemical Processing
  Healthcare


Geography

  North America

    US
    Canada


  Europe

    France
    Germany
    Italy
    UK


  Middle East and Africa

    Egypt
    KSA
    Oman
    UAE


  APAC

    China
    India
    Japan


  South America

    Argentina
    Brazil


  Rest of World (ROW)

By Type Insights

The gold segment is estimated to witness significant growth during the forecast period. The segment was valued at USD 110.60 billion in 2023. It continued to the largest segment at a CAGR of

China Settlement Price: Shanghai Future Exchange: Silver: 4th Month data was reported at 8,182.000 RMB/kg in 13 May 2025. This records a decrease from the previous number of 8,206.000 RMB/kg for 12 May 2025. China Settlement Price: Shanghai Future Exchange: Silver: 4th Month data is updated daily, averaging 4,331.500 RMB/kg from May 2012 (Median) to 13 May 2025, with 3160 observations. The data reached an all-time high of 8,480.000 RMB/kg in 31 Mar 2025 and a record low of 2,932.000 RMB/kg in 19 Mar 2020. China Settlement Price: Shanghai Future Exchange: Silver: 4th Month data remains active status in CEIC and is reported by Shanghai Futures Exchange. The data is categorized under China Premium Database’s Financial Market – Table CN.ZB: Shanghai Futures Exchange: Commodity Futures: Settlement Price: Daily.