Silver Prices

Silver prices averaged USD 49.63 per troy ounce in October, up 16.3% from September. On 31 October, the commodity traded at USD 49.35 per troy ounce, up 6.9% from 30 September.

In October, average silver prices rose at the fastest pace in over five years. The metal soared to record highs for the first time since 1980, bolstered by a global supply squeeze amid shortages in the London bullion market and stronger jewelry demand during India’s Diwali festivities—silver imports to the country nearly doubled year on year. That said, prices eased in the second half of the month, albeit remaining at historic highs, as speculative enthusiasm subsided and U.S.-China trade tensions moderated.