Silver Prices

Silver prices averaged USD 91 per troy ounce in January, up 39.7% from December. On 30 January, the commodity traded at USD 98.75 per troy ounce, up 36.3% from 31 December.

In January, silver prices sky-rocketed to new record highs, and average prices rose at the fastest pace among precious metals. The white metal’s value gained from attacks on the Fed’s independence, elevated geopolitical tensions, record demand from both retail investors and the industrial sector constraining already-tight supply, as well as confusion over a Chinese export license policy that amplified perceptions of scarcity. Still, Trump’s nomination of the next Fed chair drove a correction late in the month.