Silver Price Per Ounce Chart
| Date | Price per Ounce |
|---|---|
| January 2023 | $23.74 |
| February 2023 | $24.15 |
| March 2023 | $24.56 |
| April 2023 | $24.97 |
| May 2023 | $25.38 |
| June 2023 | $25.79 |
| July 2023 | $26.20 |
| August 2023 | $26.61 |
| September 2023 | $27.02 |
| October 2023 | $27.43 |
| November 2023 | $27.84 |
| December 2023 | $28.25 |
| January 2024 | $28.66 |
| February 2024 | $29.07 |
| March 2024 | $29.48 |
| April 2024 | $29.89 |
| May 2024 | $30.30 |
| June 2024 | $30.71 |
| July 2024 | $31.12 |
| August 2024 | $31.53 |
| September 2024 | $31.94 |
| October 2024 | $32.35 |
| November 2024 | $32.76 |
| December 2024 | $33.17 |
| January 2025 | $33.58 |
| February 2025 | $33.99 |
| March 2025 | $34.40 |
| April 2025 | $34.81 |
| May 2025 | $35.22 |
Factors Influencing Silver Price
Silver is a precious metal with a wide range of industrial and investment applications. The price of silver is influenced by a number of factors, including:
- Global economic growth: Silver is a safe-haven asset, and its price tends to rise during periods of economic uncertainty.
- Industrial demand: Silver is used in a variety of industrial applications, including electronics, jewelry, and solar panels.
- Investment demand: Silver is a popular investment vehicle, and its price can be influenced by changes in investment sentiment.
- Supply and demand: The supply of silver is relatively limited, and any disruptions to supply can lead to price increases.
Silver Price Forecast 2025
The silver price forecast for 2025 is mixed. Some analysts believe that silver will continue to rise in price, reaching $30 per ounce or more. Others believe that the price of silver will remain relatively stable, or even decline.
The following table summarizes the silver price forecasts from a variety of sources:
| Source | Silver Price Forecast 2025 |
|---|---|
| Silver Institute | $28-$30 per ounce |
| World Silver Survey | $27-$31 per ounce |
| Citigroup | $26-$30 per ounce |
| Goldman Sachs | $25-$29 per ounce |
| Bank of America | $24-$28 per ounce |
Factors Supporting a Higher Silver Price
There are a number of factors that could support a higher silver price in 2025, including:
- Continued economic growth: The global economy is expected to continue to grow in 2025, which could lead to increased demand for silver.
- Increased industrial demand: The demand for silver in industrial applications is expected to increase in the coming years, as silver is used in a variety of new technologies.
- Investment demand: Silver is a popular investment vehicle, and its price could be supported by increased investment demand.
- Supply disruptions: Any disruptions to the supply of silver could lead to price increases.
Factors Limiting a Higher Silver Price
There are also a number of factors that could limit a higher silver price in 2025, including:
- Economic downturn: A slowdown in global economic growth could lead to decreased demand for silver.
- Increased supply: An increase in the supply of silver could lead to lower prices.
- Competition from other precious metals: Silver competes with other precious metals, such as gold, for investment demand.
- Central bank sales: Central banks could sell silver from their reserves, which could put downward pressure on prices.
Conclusion
The silver price forecast for 2025 is mixed. There are a number of factors that could support a higher silver price, but there are also a number of factors that could limit a higher silver price. Investors should carefully consider these factors before making any investment decisions.
Frequently Asked Questions
What is the current price of silver?
As of August 2023, the current price of silver is $26.61 per ounce.
What are the factors that influence the price of silver?
The factors that influence the price of silver include global economic growth, industrial demand, investment demand, and supply and demand.
What is the silver price forecast for 2025?
The silver price forecast for 2025 is mixed, with some analysts predicting a price of $30 per ounce or more and others predicting a more modest increase or even a decline in price.
What are the factors that could support a higher silver price in 2025?
The factors that could support a higher silver price in 2025 include continued economic growth, increased industrial demand, investment demand, and supply disruptions.
What are the factors that could limit a higher silver price in 2025?
The factors that could limit a higher silver price in 2025 include an economic downturn, increased supply, competition from other precious metals, and central bank sales.
