How Much Is Silver Per Ounce

Current silver price per ounce

• Current price: As of September 23, 2024, the silver price per ounce is trading at $31.03
• Year-to-date change: The current silver spot price has increased by 29% since the start of 2024
• Price in kilograms: For comparison, 1 kg of silver costs $1,016.40 as of September 11, 2024

Price forecasts for 2024

• End of year prediction: The silver price per ounce is forecasted to end 2024 at $31.47, representing a 31% increase from the beginning of the year
• Average price forecast:
  • Bank of America expects an average silver price per ounce of $30 in 2024
  • Goldman Sachs predicts an average of $29.50 per ounce
• Price range predictions:
  • WalletInvestor forecasts a range of $23.17 to $24.60 per ounce throughout 2024
  • BTCC provides a broader forecast range of $18 to $50 per ounce

Factors influencing how much silver is per ounce

• Industrial demand: Strong demand from sectors like electronics, solar panels, and electric vehicles is driving the current silver spot price up
• Supply deficit: Global demand is expected to exceed supply for the fourth consecutive year
• Interest rates: Anticipated end of central bank interest rate hikes could boost silver prices per ounce
• Gold-silver ratio: A narrowing ratio could indicate potential for silver prices to rise faster than gold

Global silver production

• 2023 production: 831 million ounces of silver were mined globally in 2023
• Top producers: Mexico (24%), China (13%), and Peru (13%) were the leading silver-producing countries in 2023

FAQ

How much is silver per ounce currently?

As of September 23, 2024, the current silver spot price is $31.03 per ounce.

What is the silver price per ounce forecast for the end of 2024?

The silver price per ounce is forecasted to end 2024 at $31.47, representing a 31% increase from the beginning of the year.

How has the current silver spot price changed since the start of 2024?

The current silver spot price has increased by 29% since the beginning of 2024.

What factors influence the silver price per ounce?

Factors influencing the silver price per ounce include industrial demand, supply deficit, interest rates, and the gold-silver ratio.

Which countries are the top producers of silver?

The top silver-producing countries in 2023 were Mexico (24%), China (13%), and Peru (13%).