Silver Price Per Ounce 5-Year History
Silver is an incredibly valuable metal, with a price that has fluctuated over the past five years. To understand these market fluctuations, it is important to consider the silver price per ounce for each year from 2015 to 2019.
This article will provide an overview of how the price of silver has changed over this 5-year period and analyze any patterns or trends in the data. It will also discuss some of the potential factors influencing the silver market during this time.
By understanding these changes, investors can better anticipate future movements in silver prices.
2015 Silver Price Per Ounce
Examining data from the past five years provides an insight into silver’s changing value.
Over the last five years, the price of silver per ounce has seen a steady increase.
On December 31st, 2014, the closing spot price for one troy ounce of silver was $17.07 USD/ounce; however, by the end of 2019 that same amount had increased to $18.48 USD/ounce – a nearly 8% appreciation in value.
This trend appears to be continuing into 2020 with prices beginning even higher than at year-end 2019 at around $19.00 USD/ounce as of March 1st 2020.
That being said, there have been some fluctuations in pricing over this five-year period which correspond to changes in market conditions and investor sentiment globally.
For instance, when news broke about China’s economic slowdown in 2015, silver prices fell by almost 9%, indicating investors’ concerns regarding global economic stability and their need for safe asset investments such as precious metals like gold or silver.
Similarly, when it comes to macroeconomic events such as Brexit or US-China trade negotiations, these can also affect prices significantly as investors tend to move money between different assets seeking safety and growth opportunities depending on what is happening at any given time in international markets.
2016 Silver Price Per Ounce
Taking a closer look at the five-year span, it is clear that there has been quite a rollercoaster ride with regards to the precious metal.
In 2019, silver began the year at $15.86 per ounce and ended at $18.20 per ounce, representing a 14.5% gain for the year.
This was followed by an equally impressive run in 2020 when silver started at $17.96 per ounce and surged towards the end of 2020 to close at a high of $29 per ounce, representing more than 60% gains for the year as a whole.
2021 saw silver prices continue their upward trajectory, climbing even higher to reach its current level around $27.50 per ounce as of early April 2021 – still representing nearly 50% gains from where it began just over two years ago in 2019 despite some corrections along the way.
It is worth noting that this significant increase in price can be attributed mainly to investors taking advantage of gold’s safe haven status during times of economic uncertainty brought on by pandemic-induced volatility in other markets such as stocks and bonds.
As such, this has likely played an important role in driving up demand for and value of silver worldwide over this time period.
2017 Silver Price Per Ounce
Despite the strong gains seen in recent years, the price of silver has fluctuated significantly over the past five-year period, providing investors with a rollercoaster ride of highs and lows.
In January 2015, spot silver prices averaged around $17.00 per ounce before peaking at nearly $20 per ounce in December 2016. Since then, market prices have been on a downward trend until early 2019 when they started to rise again.
The peak this year was reached in July 2020 when silver prices rose to almost $29 per ounce before easing back down due to some profit taking and general market uncertainty.
Overall, the silver price has experienced a lot of volatility over the past five years but its overall trend has been positive with an average increase of more than 70%. This is largely attributed to factors such as increased industrial demand from emerging economies coupled with lower production levels as many mines are running out of reserves and closing down operations.
As such, it’s likely that silver will remain a lucrative investment opportunity for those looking to diversify their holdings and hedge against potential economic downturns.
2018 Silver Price Per Ounce
In recent years, the price of silver has seen a high degree of volatility. Through 2019, for instance, the price per ounce ranged from $14.50 to $19.00, before climbing steadily throughout 2020 and reaching as high as $29 in August. This period of rapid growth was followed by a decline in September, with prices dropping back into the teens over the following months and remaining relatively flat since then.
The causes of these fluctuations are varied and complex, but they are largely driven by market speculation and investors’ expectations about future trends in supply and demand. The value of silver is also affected by its use in industry; when industrial demand is high due to economic growth or other factors, this leads to increased prices. Conversely, when industrial demand declines due to economic downturns or global shifts in consumer behavior, this can cause downward pressure on silver prices.
2019 Silver Price Per Ounce
Recent fluctuation of the precious metal’s value has been influenced by a multitude of factors.
In recent months, silver prices have seen an uptick that has been credited to an increase in industrial demand and a rise in investors seeking a safe-haven asset.
The pandemic caused many investors to invest in commodities such as silver, which can protect their wealth from inflationary pressures.
Additionally, the increased use of silver for industrial purposes like solar panel production and its application in medical technology have also contributed to the rise in price.
Silver prices are expected to climb further as more countries focus on renewable energy sources, boosting the demand for solar panels and other applications where silver is used.
Furthermore, the combination of limited supply due to mining disruptions due to COVID-19, coupled with increasing investor confidence towards the commodity will likely keep pushing up its prices.
Frequently Asked Questions
What is the current price of silver per ounce?
The current price of silver per ounce is highly dependent on numerous factors, including global economic and political conditions, financial markets, and the availability of the metal.
In recent years, the price has experienced significant fluctuations due to an increase in demand for industrial purposes and a decrease in supply caused by mining disruptions.
As of June 2020, silver was trading at around $17.50 USD per troy ounce.
How has the price of silver changed over the past decade?
The price of silver has fluctuated wildly over the past decade, like a rollercoaster with no end in sight.
At the start of 2010, silver was trading at $18 USD per ounce and rose as high as $48 USD by the middle of 2011 before dipping down to around $19 USD by early 2014.
It then experienced another surge in mid-2016 up to nearly $21 USD but soon dropped back to about $14 USD in late 2017.
Since then, it has steadily risen back up again to its current level of around $20 USD per ounce.
Overall, silver has seen a significant price increase since 2010 despite some volatility along the way.
What factors affect the price of silver?
Silver is an important precious metal, whose price can be strongly influenced by a variety of macroeconomic factors. Factors such as global economic growth, inflation, and interest rates all play a role in the price of silver.
In addition, geopolitical events such as war or natural disasters will also affect demand for the metal and its price. Supply-side factors are also important to consider when analyzing silver’s price movements. The availability of ore grades used to produce silver, production costs of mining operations, and government regulations on extraction processes can all influence the supply of silver available on the market.
Finally, investor sentiment regarding gold and other commodities is another factor that can have an effect on silver’s pricing dynamics.
How can I invest in silver?
Investing in silver can be a lucrative endeavor, especially when its value increases. Silver is often considered to be an attractive asset due to its tangible nature and relatively low cost of entry compared to other precious metals.
Potential investors should consider the various opportunities available, such as physical silver bullion bars or coins, exchange-traded funds (ETFs) and certificates, as well as mining stocks and futures contracts. All of these options offer different risks and rewards that must be carefully evaluated before making any investments.
Furthermore, understanding the factors that affect the price of silver over time is essential for successful long-term investing.
Is it safe to buy silver online?
Buying silver online can be a safe and convenient way to purchase the precious metal, if certain precautions are taken. Before buying from an online retailer, make sure you research their reputation and read any reviews of the seller or website.
Additionally, ensure that they offer secure payment options such as credit card processing systems or encryption for online payments. Furthermore, it is important to confirm that the product being purchased is genuine and not counterfeit by reading any certifications or qualifications associated with the item.
Finally, remember to double check shipping times and costs before completing your purchase, in order to receive your silver on time.
Conclusion
Silver has been a valuable commodity for centuries, and its price per ounce has risen and fallen over the years. From 2015 to 2019, the silver price per ounce rose from $17.37 to $16.99, showing an overall decrease of 2.4%.
This demonstrates that while silver prices can fluctuate drastically in a short time-frame, it is still considered a reliable investment over the long-term due to its intrinsic value. As the saying goes: “time in the market beats timing the market”, which suggests that investors should have faith in their investments even when silver prices are low.
With continued observation of economic conditions, investing in silver could be a lucrative decision for those willing to take on risk in pursuit of reward.
