Silver Price History
The annual silver price, led by continued strong investor and industrial applications demand, averaged an impressive $13.38 in 2007. This result represented a 16% price increase over 2006, and on a percentage basis was stronger than that enjoyed by gold, platinum and palladium last year. When looking at the 2007 silver price, the white metal posted a very solid performance to averages not seen since 1980. A key development in silver’s recent fortune has been the pronounced shift in investor behavior, witnessed by the continued presence of investors on the demand side of the equation since 2004. ![]() During the first half of 2008, investors drove the silver price up above the $20/oz mark (a high of $20.92 oz was recorded in March) against a backdrop of generally firm fabrication demand. The second half of 2008 was a different story as the economic outlook deteriorated rapidly, and silver, as well as other metal prices, slumped. However, silver’s price in the first third of 2009 recovered a good part of the lost ground. Silver posted an average price of $14.67 in 2009, the second highest average since the high reached in 1980. Strong gains in investment and a recovery in demand later in the year, were the prime reasons for the 53% intra-year rise. Silver posted an average price of $20.19 in 2010, a level only surpassed in 1980, and a marked increase over the $14.67 average price in 2009. Strong silver investment in 2011 paved the way to a record annual average silver price in a year marked by steep price volatility while retail silver investment demand for both physical bullion bars and coins & medals surged to record levels. Silver posted an annual average price of $35.12 in 2011, more than double the $14.67 annual average price achieved in 2009. This offers further testament to investors’ enthusiasm for the metal as silver World Investment (including implied net investment, silver bars and coins & medals) produced another historic high total last year of 282.2 million ounces (Moz), the equivalent of approximately $10 billion on a net basis, itself a record high. Source: The Silver Institute | Receive Updates
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