Silver prices are continuing to decline. The price dropped by 1.4 percent in November and returned to June 2016 level $17.4/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 $42.7/troy oz. During the last 3 years, the price has been changing gradually from $20/troy oz to $14/troy oz and to $20/troy oz again. The first 7 months of the previous year 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/troy oz from $15.7/troy oz in 2015. After that, the slow decline will start. According to this forecast, the price will change from $17.0/troy oz to $16/troy oz in 2025.
View more energy statistics and visualizations related to energy, including the estimated breakeven cost of oil production by country, natural gas, crude oil price dynamics and insights from the BP Energy Outlook 2030, or 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 | aluminum | copper | nickel | zinc | coal.
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.