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.

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.

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

The silver market is segmented by type (fine silver, sterling silver, argentium silver, coin silver, and other types), application (physical investment (bars), electrical and electronics, photographic films, brazing alloys, jewelry and silverware, pharmaceuticals, and other applications), and geography (Asia-Pacific, North America, Europe, South America, and the Middle East and Africa). The report offers market sizes and forecasts for the silver market in volume (million ounces) for all the above segments.

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.

Fine Silver: Pure silver with a fineness of 99.9% or higher Sterling Silver: An alloy of silver and copper, typically 92.5% silver German Silver: An alloy of copper, nickel, and zinc Coin Silver: An alloy used in the production of coins Britannia Silver: A type of silver alloy used in the production of British coins Mexican Silver: Traditionally produced in Mexico, renowned for its high purity Russian Silver: Historic and collectible silver produced in Russia Oxidized Silver: Silver that has undergone a chemical reaction to create a dark, antique look Recent developments include: Silver market forecasts from 2021 and the upcoming years suggest that most key industrial players focus on exploring new technologies that can be merged with the silver market production. This greatly helps in the purchase of commodities. Several regulatory bodies are implemented for the detection and quality verification of the silver as well that disclose a proper commodity market. Not only consumers but also manufacturers and retailers help with the same. This now provides numerous opportunities for marketers due to the rising demand of the prominent key players of the market like Goldcorp, Gold Fields, and Barrick Gold.. Key drivers for this market are: Growing global population and rising disposable income. Increasing demand for silver in electronics and technology. Concerns about energy security and the need for renewable energy sources.. Potential restraints include: Price volatility and fluctuations in supply and demand. Competition from substitute materials, such as copper and aluminum. Stringent environmental regulations governing silver mining and processing activities.. Notable trends are: Development of new technologies for silver extraction and processing. Rising adoption of silver-based antimicrobial and antibacterial technologies. Growing interest in silver as a sustainable investment asset..

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.

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...

Explore the volatile price trends of silver, driven by industrial demand, investment interest, and macroeconomic factors. Discover how inflation, geopolitical tensions, and economic events influence silver prices, along with the impact of technological advancements and investment products.

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 size and share of the market is categorized based on Type (Gold Jewelry, Platinum Diamond) and Application (Man, Woman) and geographical regions (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).

The size of the Silver Market was valued at USD XX Million in 2023 and is projected to reach USD XXX Million by 2032, with an expected CAGR of > 5.00% during the forecast period. Silver is known for its unique properties and it is gaining importance within industries particularly in emerging technologies. It is also becoming popular among investors as a way of securing their wealth when there is economic uncertainty. Growth of luxury goods industry, along with the rising popularity of silver jewelry in fashion, is driving increased demand in this sector, particularly in emerging markets. Furthermore, silver's superior conductivity and antibacterial qualities make it vital in a variety of industrial applications, including electronics, solar panels, and medical equipment, resulting in significant increases in industrial demand. Advances in silver applications, notably in nanotechnology and healthcare, are creating new opportunities for market growth. As disposable incomes rise and shifting consumer preferences towards silver consumption in both jewelry and industrial uses in developing economies is likely to fuel significant growth in the market. Recent developments include: April 2023: Impact Silver Corp. announced the completion of the share purchase and sale agreement with Consolidated Zinc Limited of Australia, the purchase of all outstanding shares of its subsidiary, Minera Latin America Zinc S.A.P.I de C.V., which holds a 100% interest in the high-grade, Plomosas zinc-lead-silver mine in the state of Chihuahua, northern Mexico. The agreement consists of a total price of USD 6 million out of which USD 3 million is to be given in cash and the balance in the form of IMPACT shares., March 2023: Pan American Silver Corp announced the USD 4.8 billion acquisition of all the issued and outstanding common shares of Yamana Gold, following the sale by Yamana of its Canadian assets, including certain subsidiaries and partnerships. With this acquisition, the company expects a material increase in the production of silver and gold, while also continuing to provide a preferred way to invest in silver through large silver mineral reserves and growth opportunities.. Key drivers for this market are: Increasing Demand for Silver in Industrial and Electrical Applications, Rising Demand for Silver in Jewelry and Silverware. Potential restraints include: Stringent Regulations on the Production and Consumption of Silver due to Health-Related Issues. Notable trends are: Electrical and Electronics Application to Dominate.

The North American silver market expanded slightly to $9.7B in 2023, growing by 1.9% against the previous year. The total consumption indicated a tangible expansion from 2012 to 2023: its value increased at an average annual rate of +2.2% over the last eleven years. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2023 figures, consumption decreased by -11.7% against 2021 indices.

Silver Economy Market size was valued at USD 1.6 Trillion in 2023 and is projected to reach USD 2.9 Trillion by 2031, growing at a CAGR of 8.10% during the forecast period 2024-2031.

Global Silver Economy Market Drivers

The market drivers for the Silver Economy Market can be influenced by various factors. These may include:

Aging Population: With increasing life expectancy and declining birth rates, the proportion of older adults in many countries is rising. This demographic shift creates greater demand for products and services tailored to their needs.

Health and Wellness Focus: Older adults are increasingly prioritizing health and wellness. This drives demand for healthcare services, fitness programs, nutritional products, and wellness technologies.

Silver Food Market size was valued at USD 14.41 Billion in 2024 and is projected to reach USD 19.48 Billion by 2031, growing at a CAGR of 3.84% during the forecasted period 2024 to 2031.

The Silver Food Market is driven by increasing consumer awareness of the health benefits associated with silver, such as its antimicrobial properties and potential to support immune function. The rise in popularity of natural and alternative health products, coupled with a growing demand for functional foods and supplements, is fueling market growth. Additionally, advancements in silver-based food technologies and innovations in product formulations are expanding the range of silver-enriched food offerings. Increased disposable income and a rising focus on wellness and preventive healthcare are also contributing to market expansion. However, regulatory challenges and concerns about the long-term safety of silver consumption could impact market dynamics.

The Silver Economy, catering to the rapidly growing population of senior citizens, presents a significant market opportunity. Valued at $2 trillion in 2023, this industry is projected to experience a robust CAGR of 12.2% over the forecast period, reaching a colossal $6.2 trillion by 2033. Driven by factors such as increasing longevity, rising disposable income, and a growing demand for elderly care services, the Silver Economy is set to reshape various sectors, including healthcare, finance, housing, and transportation. Key trends shaping the Silver Economy include the rise of age-tech solutions, the increasing prevalence of chronic diseases, the growing demand for home-based care, and the emergence of senior-focused travel and entertainment. While technological advancements offer new opportunities for healthcare, sociability, and financial planning, challenges such as the high cost of eldercare, the shortage of qualified healthcare professionals, and the stigma associated with aging can restrain market growth. Nevertheless, the increasing awareness of the importance of supporting the elderly population and the growing focus on healthy aging create a positive outlook for the Silver Economy in the years to come.

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.

Silver Inks, Pastes and Coatings Market is growing at a faster pace with substantial growth rates over the last few years and is estimated that the market will grow significantly in the forecasted period i.e. 2024 to 2031.

Global Silver Inks, Pastes and Coatings Market Drivers

The market drivers for the Silver Inks, Pastes and Coatings Market can be influenced by various factors. These may include:

Demand in the Electronics Industry: Conductive materials such as silver inks and pastes, which are used in printed circuit boards (PCBs), touchscreens, and other electronic components, are becoming more and more necessary due to the rising demand for electronic devices such as smartphones, tablets, wearables, and smart appliances.
Emerging Technologies: The market for silver-based materials is driven by developments in printed electronics, flexible electronics, and organic electronics. Since silver is conductive and works well with flexible substrates, it is essential in these cutting-edge fields.
Solar Energy Sector: A lot of photovoltaic cells for solar panels are made using silver pastes. Silver pastes are needed in the metallization processes of solar cells, and demand for them is predicted to increase as the renewable energy industry grows.
Trends in the Automotive Industry: More electronic parts and cutting-edge technologies, such as displays, sensors, and advanced driver-assistance systems (ADAS), are being integrated into automobiles by the automotive industry. The need for silver inks and pastes used in the production of vehicle electronics is rising as a result of this trend.
Healthcare Applications: Wearable medical technology, printed biosensors, and intelligent pharmaceutical packaging are just a few of the uses for silver-based inks and coatings in the healthcare industry. Silver-based materials may become more in demand as the healthcare sector uses more intelligent and linked devices.
Miniaturization Trend: The requirement for conductive materials that can be precisely printed onto small surfaces is driven by the trend of electronics becoming smaller. Microelectronics and smaller devices can benefit from the superior conductivity and fine resolution of silver inks and pastes.
Sustainability and Environmental restrictions: The creation of environmentally friendly silver ink and coating formulations is fueled by growing consumer demand for sustainable products and environmental restrictions. Businesses are spending money on research to create formulations that are solvent-free or water-based and have a lower environmental impact.
Research and development (R&D) expenditures: Continuous R&D expenditures to enhance the efficiency and economy of silver inks, pastes, and coatings support market expansion. Product improvements and market expansion are driven by innovations in formulation techniques, nanoparticle synthesis, and application methodologies.

[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