Silver declined to below $21 an ounce, closing in on a 23-month low of $20.4 hit in May as the Fed and other major central banks around the world raise interest rates to tackle inflation threatening further the global economy. The Federal Reserve hiked the Fed funds rate by 75bps and Chair Powell signaled a similar move is on the table at the next meeting, while the Bank of England raised rates for the 5th time and the Swiss National Bank raised borrowing costs for the first time since 2007. The ECB is expected to increase interest rates into positive territory in Q3, starting with a 25bps hike in July. At the same time, investors worry about global growth amid the war in Europe, persistent supply chain issues, and the spread of Covid-19 in China.

Historically, Silver reached an all time high of 49.51 in April of 2011. Silver - data, forecasts, historical chart - was last updated on June of 2022.

Silver is expected to trade at 21.25 USD/t. oz by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate it to trade at 20.08 in 12 months time.

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Price Day Month Year
Gold 1,826.18 3.75 0.21% -1.44% 2.57%
Silver 21.11 0.175 0.84% -3.91% -19.04%
Copper 3.76 0.0040 0.11% -11.67% -12.40%
Steel 4,301.00 12.00 0.28% -7.01% -12.39%
Iron Ore 116.50 -0.50 -0.43% -10.38% -47.05%
Lithium 477,500.00 0 0% 4.14% 436.52%
Platinum 907.50 0.75 0.08% -3.83% -18.32%

Silver futures and options contracts are used by mining companies, fabricators of finished products, and users of silver-content industrial materials to manage their price risk. As a precious metal, silver also plays a role in investment portfolios. The largest industrial users of silver are the photographic, jewelry, and electronic industries. The biggest producers of silver are: Mexico, Peru and China followed by Australia, Chile, Bolivia, United States, Poland and Russia.
Actual Previous Highest Lowest Dates Unit Frequency
21.11 20.93 49.51 3.53 1975 - 2022 USD/t. oz Daily