Silver Prices

Silver prices averaged USD 50.67 per troy ounce in November, up 2.1% from October. On 28 November, the commodity traded at USD 52.50 per troy ounce, up 6.4% from 31 October.

In November, average silver prices rose for a seventh consecutive month, and at the fastest pace among precious metals. Despite volatility throughout the month, the metal’s value hit a new record high in November, dethroning October’s short-lived record. Price gains were supported by the U.S. government shutdown, expectations of a Fed December rate cut, still-tight supply and news of the metal’s addition to the U.S. critical minerals list.