Silver Prices

Silver prices averaged USD 38.26 per troy ounce in August, up 1.2% from July. On 29 August, the commodity traded at USD 39.20 per troy ounce, up 6.7% from 31 July.

In August, silver prices rose at the fastest pace among precious metals, increasing for the fourth consecutive month. The acceleration was driven by expectations of U.S. Fed interest rate cuts. Moreover, concerns over the Fed’s independence—due to Trump’s push to remove governor Lisa Cook—and uncertainties related to trade policy helped keep prices around their highest levels since 2011.