Explore the dynamic silver market as of October 2023, influenced by economic indicators, geopolitical tensions, and industrial demand. Learn about the impact of interest rates, US Dollar strength, and technological advancements on silver pricing. Discover the growing role of digital trading and retail investors in this multifaceted commodity market.

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 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...

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

Explore how economic indicators, geopolitical stability, and industrial demand influence silver prices in the stock market and commodities trading. Learn about the impact of central banks' monetary policies and the role of silver in sectors like electronics and clean energy. Discover investment options like silver ETFs and mining stocks to diversify portfolios and manage market volatility.

Turkey Silver Market: IGE: USD: Last Trade Day: Transaction Amount data was reported at 0.000 kg in Jul 2018. This records a decrease from the previous number of 711.726 kg for Jun 2018. Turkey Silver Market: IGE: USD: Last Trade Day: Transaction Amount data is updated monthly, averaging 700.000 kg from Aug 1999 (Median) to Jul 2018, with 212 observations. The data reached an all-time high of 4,996.757 kg in Sep 2013 and a record low of 0.000 kg in Jul 2018. Turkey Silver Market: IGE: USD: Last Trade Day: Transaction Amount 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.

8319 Global export shipment records of Silver with prices, volume & current Buyer's suppliers relationships based on actual Global export trade database.

United States Imports from China of Base Metals or Silver, Clad With Gold was US$14.02 Thousand during 2024, according to the United Nations COMTRADE database on international trade. United States Imports from China of Base Metals or Silver, Clad With Gold - data, historical chart and statistics - was last updated on March of 2025.

Fortuna Silver Mines reported $430.46M in Current Assets for its fiscal quarter ending in September of 2024. Data for Fortuna Silver Mines | FVI - Current Assets including historical, tables and charts were last updated by Trading Economics this last March in 2025.

Pan American Silver reported $1.76B in Current Assets for its fiscal quarter ending in March of 2025. Data for Pan American Silver | PAAS - Current Assets including historical, tables and charts were last updated by Trading Economics this last June in 2025.

United States Imports from Mexico of Base Metals or Silver, Clad With Gold was US$2.06 Million during 2024, according to the United Nations COMTRADE database on international trade. United States Imports from Mexico of Base Metals or Silver, Clad With Gold - data, historical chart and statistics - was last updated on March of 2025.

125483 Global import shipment records of Silver Bars with prices, volume & current Buyer's suppliers relationships based on actual Global export trade database.

Indonesia Imports from Japan of Base Metals or Silver, Clad With Gold was US$133.01 Thousand during 2023, according to the United Nations COMTRADE database on international trade. Indonesia Imports from Japan of Base Metals or Silver, Clad With Gold - data, historical chart and statistics - was last updated on March of 2025.

Brazil Exports of base metals or silver, clad with gold to Chile was US$2.38 Thousand during 2023, according to the United Nations COMTRADE database on international trade. Brazil Exports of base metals or silver, clad with gold to Chile - data, historical chart and statistics - was last updated on March of 2025.

28981 Global import shipment records of Silver with prices, volume & current Buyer's suppliers relationships based on actual Global export trade database.

Portugal Imports of base metals, silver or gold, clad with platinum from Russia was US$540 during 2023, according to the United Nations COMTRADE database on international trade. Portugal Imports of base metals, silver or gold, clad with platinum from Russia - data, historical chart and statistics - was last updated on March of 2025.

Italy Exports of base metals or silver, clad with gold to Trinidad And Tobago was US$2.42 Thousand during 2023, according to the United Nations COMTRADE database on international trade. Italy Exports of base metals or silver, clad with gold to Trinidad And Tobago - data, historical chart and statistics - was last updated on February of 2025.

Philippines Imports of base metals or silver, clad with gold from New Zealand was US$643 during 2021, according to the United Nations COMTRADE database on international trade. Philippines Imports of base metals or silver, clad with gold from New Zealand - data, historical chart and statistics - was last updated on May of 2025.

216 Global import shipment records of Silver Articles with prices, volume & current Buyer's suppliers relationships based on actual Global export trade database.