Price of Silver in 2016

In 2016, oil prices dropped below $30 per barrel and the stock market fell, which led many investors to precious metals. As demand increased, so too did the value of silver.

The charts below show the 2016 Silver Prices and the movement of spot prices throughout the year.

Silver Prices 2016 Chart

What Impacted Silver Prices in 2016?

Silver’s gains in 2016 were mostly made in two big jumps up, followed by a big drop at the end of the year. During the first four months of 2016, the price of an ounce of silver went from less than $14 to more than $18. This was said to be a result of choppy markets and a general improvement in the outlook for industrial commodities.

Silver prices were also helped by the Federal Reserve not raising interest rates – lower rates made it easier to hold positions in precious metals.

The fallout from Brexit also impacted the market, causing chaos in the currency markets, so silver seemed like a safer option.

Daily Silver Prices (Chart)

To find the daily prices for Silver in this year, use the date filters in the chart above.

The information provided here is for educational purposes only and should not be used for speculation and investment purposes. CanAm does not guarantee that the prices shown here are correct, up-to-date, or complete, and we are not responsible for inaccuracies or omissions in this price data.

How to Invest in Silver

You can invest in silver in two ways: the metal itself or paper stocks. While paper stocks might suit some investors, having actual silver in your possession gives you more security into the future.

To invest in silver, you want to make sure you are spending money on 99.9% pure silver – this is the highest grade on the market. You can shop for silver bars, ranging from the 1oz Silvertowne Buffalo Silver Bar to the 1 Kilo JBR Silver Bar, or purchase silver coins or rounds, such as the 1oz American Eagle Silver Bullion Coins or 1oz Silver Sunshine Round.

If this is your first investment, you might choose smaller bars as they are easier to sell if market conditions change.

Buy Silver Online with CanAm

CanAm strives to build long-term, trustworthy partnerships with our customers. To do this, we ensure we provide excellent customer service and competitive and accurate prices.

Adding pure silver bars or silver bullion to your portfolio is a great way to diversify your assets. You can shop via our online store to get your collection moving, or if you have any concerns, contact our investment consultants.