Silver prices are continuing to decline. The prices dropped by 1.4 percent in November and returned to June 2016 level of $17.4 per troy oz. The July boom, when the price grew by 16 percent, was totally negated. Experts do not predict a growth in the short term. The long-term decline started in 2011 when the price had record value of $42.7 per troy oz. During the last 3 years, the price has been fluctuating gradually from $20 to $14 per troy oz. The first 7 months of 2015 became one of the longest periods of growth but the result was not so high.
Experts from World Bank estimated that the average spot price for silver will rise in 2016 to $17.0 from $15.7 per troy oz in 2015. After that, the slow decline will start. According to this forecast, the price will change from $17.0 to $16 per troy oz in 2025.
Dive deeper into historical commodity prices from the World Bank and IMF or commodity price forecasts.
You can also explore with Knoema a variety of other critical commodities, including:
gold | silver | copper | aluminum | nickel | zinc | coal | natural gas | crude oil
As you examine commodity prices and forecasts, you may also be interested in economic forecasts for the G20 countries across the following indicators: GDP growth | inflation | unemployment | government debt | current account balance | external debt.