Silver prices corrected sharply from a January all-time high to current levels, driven by sentiment and macroeconomic factors. The market is in its sixth consecutive year of structural deficit, with industrial demand from solar, AI, and electrification remaining robust. Analysts maintain full-year average forecasts above the current price.
| Product | Region | Incoterm Basis | Price | Last Updated Month |
|---|---|---|---|---|
| Silver | China | FOB | USD 65.55/Ounce | July 2026 |
| Silver | India | CIF | USD 65.55/Ounce | July 2026 |
| Silver | USA | CIF | USD 65.55/Ounce | July 2026 |
| Silver | Germany | EXW | USD 65.55/Ounce | July 2026 |
| Silver | Australia | CIF | USD 65.55/Ounce | July 2026 |
| Silver | China | FOB | USD 74.00/Ounce | June 2026 |
| Silver | India | CIF | USD 74.00/Ounce | June 2026 |
| Silver | USA | CIF | USD 74.00/Ounce | June 2026 |
| Silver | Germany | EXW | USD 74.00/Ounce | June 2026 |
| Silver | Australia | CIF | USD 74.00/Ounce | June 2026 |
Stay updated with the latest Silver prices, historical data, and tailored regional analysis
In China, Silver prices averaged ~USD 86.8/ounce in May and ~USD 74/ounce in June, showing a ~15% decrease. In India, Silver prices similarly averaged ~USD 86.8/ounce in May and ~USD 74/ounce in June. The correction was driven by stronger dollar conditions, changing interest-rate expectations, and weaker investor risk appetite. In India, silver imports fell sharply during May, with import volume declining to 33 tonnes, reflecting tighter import restrictions and higher duties. This reduced physical-market support in Asia, while cautious industrial demand in China also weighed on sentiment. Despite the correction, structural supply tightness remained a key support, with the market expected to record another annual deficit in 2026 and global supply projected to decline. Industrial consumption from solar and electronics continued to provide underlying support, limiting the impact of weaker investment demand.
Analyst Insight
According to Procurement Resource, silver prices may remain volatile as dollar movements and rate expectations influence investment flows, while persistent supply deficits and industrial demand could provide downside support.
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Silver prices moved unevenly across regions during Q1 2026, reflecting global volatility and demand shifts. In China, prices declined from RMB 22.93 RMB/g (Spot FD) in January to RMB 22.30/g in March, indicating mild weakness as market sentiment softened after earlier gains. In India, prices fell from INR 284.95/g in January to INR 277.76/g in March, marking a 4.75% decline, driven by cautious buying and pressure from global corrections.
In Europe, prices decreased from EUR 2.80/gram in January to EUR 2.26/gram (Spot) in March, despite a stronger performance compared to the previous quarter, where Q1 prices were significantly higher than Q4 levels. Globally, silver had surged in the past year, but volatility increased in early 2026 due to shifting dollar strength and changing expectations around monetary policy, triggering sharp corrections, including a steep single-session drop. Industrial demand from solar panels and electrification continued to support the market, though rising costs started to impact consumption patterns.
Silver is a naturally occurring element. In appearance, Silver is a white and lustrous metal. It is used as jewellery, silverware, electronic equipment, and dental fillings. It is also utilised to make photographs, in brazing alloys and solders. Silver is known to have the highest electrical conductivity, thermal conductivity, and reflectivity than any metal.
Ag
Brazing alloys, Batteries, Dentistry, Glass Coatings, LED Chips, Medicine, Nuclear reactors, Photography, Photovoltaic (Or Solar) energy, RFID Chips (for tracking), Semiconductors, Ornaments, Touch screens, Water purification
7440-22-4, Argentum, Silver Metal, Silver Atom
Umicore N.V, American Elements, MMC Norilsk Nickel PJSC, Hindustan Zinc Limited, Korea Zinc Co., Ltd., Yunnan Tin Group Company Limited (YTC), Polymetal International plc, Pan American Silver Corporation
CurrencyUS$ (Data can also be provided in local currency)
Supplier Database AvailabilityYes
Customization ScopeThe report can be customized as per the requirements of the customer
Post-Sale Analyst Support360-degree analyst support after report delivery
Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.
Silver can be derived or extracted by using smelting or chemical leaching process, where heat and chemical reducing agents are utilised to get the base metal from the ore. Thus, smelting process leaves Silver behind from its ore. However, Silver can also be produced during the electrolytic refining of copper through Parkes process.
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This report provides the cost structure of polyacetal resin production by the silver-catalysed process. In this process, methanol is oxidized to formaldehyde, using silver as a catalyst.
Silver Nitrate Manufacturing Plant Project Report thoroughly focuses on every detail that encompasses the cost of manufacturing. Our extensive cost model meticulously covers breaking down expenses around raw materials, labour, technology, and manufacturing expenses. This enables precise cost structure optimization and helps in identifying effective strategies to reduce the overall cash cost of manufacturing.
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