Key Events, Price Drivers and Silver’s Performance Over the Last 20 Years
Key Events, Price Drivers and Silver’s Performance Over the Last 20 Years
Silver, often referred to as “the poor man’s gold,” has proven its value both as a precious metal and an industrial asset. Over the past two decades, silver’s price movements have reflected economic trends, industrial demand, and geopolitical events, making it a unique addition to investment portfolios.
Silver’s Price Journey: 2004–2024
- 2008 Global Financial Crisis
During the financial meltdown, silver followed gold’s trajectory, rising from around USD 10 per ounce in late 2008 to USD 19 by 2010. - Bull Run and 2011 Peak
Silver hit a historic high of USD 49 per ounce in April 2011, driven by investor demand amidst fears of inflation and debt crises. - Post-2011 Decline
After its peak, silver faced a sharp correction, falling below USD 20 by mid-2014 due to reduced investor demand and a stabilising global economy. - COVID-19 Pandemic (2020)
Silver prices surged in tandem with gold, reaching USD 30 per ounce in August 2020. The rise was fuelled by supply chain disruptions and heightened industrial demand.
- Green Energy Transition (2021–2024)
Silver has remained strong, supported by its crucial role in solar panels and electronic components, aligning with global clean energy initiatives. Prices have ranged between AUD 35 – 51 per ounce.
Key Price Drivers
- Industrial Demand
Silver’s extensive use in technology, solar panels, and medical equipment ties its price closely to industrial trends. - Economic Uncertainty
Like gold, silver benefits from safe-haven demand during economic crises. - Inflation and Currency Fluctuations
Silver can act as a hedge against inflation, with prices often moving inversely to the strength of the US dollar. - Supply Constraints
Disruptions in mining and refining operations significantly impact silver’s availability and pricing.
- Geopolitical and Green Energy Trends
The global shift towards renewable energy has increased demand for silver in photovoltaic cells, influencing long-term price trajectories.
Why Invest in Silver?
Silver offers a lower entry point compared to gold while providing diversification and industrial growth potential. Australian investors in Brisbane, Sydney, Melbourne, Sunshine Coast, Gold Coast and beyond can rely on Gold Bullion Australia for investment grade silver products, ensuring a secure and transparent trading experience.
Silver’s dual role as a precious and industrial metal positions it uniquely in the investment world. Its performance over the last 20 years underscores its potential as both a safe-haven asset and a driver of future technologies. Interested in adding silver to your investment portfolio? Discover our wide selection of investment-grade silver products at Gold Bullion Australia secure your future with tangible assets today.
Disclaimer: The information contained in the charts and price lists are based on data obtained from various sources believed to be reliable by Gold Bullion Australia. However, factors beyond our control may cause variances or delays which affect the spot price or charts.
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