Silver Prices

Silver prices averaged USD 32.23 per troy ounce in April, down 2.9% from March. On 30 April, the commodity traded at USD 32.72 per troy ounce, down 3.3% from 31 March.

Silver prices dropped sharply in early April as President Trump’s announcement of “reciprocal” tariffs sparked market concerns over industrial sector demand, which accounts for over half of total demand for silver. Still, prices trended up later in the month: Trump quickly paused the aforementioned tariffs for 90 days, which boosted silver prices together with strong safe-haven demand, supply concerns regarding top producers Mexico and China, lower Treasury bond yields and a weaker USD.