Average London fix price of silver 1975-2019

The annual average of London fix price for one ounce of silver in 2019 was 16.21 U.S. dollars.

The global silver industry

Silver is a soft, white, malleable metal that has the highest electrical and thermal conductivity of all metals. Silver is most commonly used to make coins, jewelry, and silverware. It is typically produced as a byproduct of copper, gold, lead, and zinc refining. The estimated global mine production of silver in 2019 was 27,000 metric tons. The leading country in silver production in 2019 was Mexico. In that year, they produced about 6,300 metric tons of silver. Furthermore, Peru had the largest silver reserves worldwide. As of 2019 they each had silver reserves amounting to 120,000 metric tons.

Silver in the United States

Silver exports from the United States have been fluctuating since 2008, but have recently been on the decline. In 2018, the United States exported about 160 metric tons of silver, a significant decrease from the 946 metric tons they exported in 2012. U.S. imports of silver for consumption, meanwhile, amounted to 4,700 metric tons in 2019.

Average London fix price of silver from 1975 to 2019

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Sources

Release date

April 2020

Region

Worldwide

Survey time period

1975 to 2019

Supplementary notes

This statistic was assembled using several editions of the report.

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