Price of Silver in 2020

Silver is an important part of many everyday items, including electronics, cameras, jewelry, and coins. It has many uses in industry and technology because of how well it conducts electricity and how durable it is. As long as there is a use for silver, demand won’t waiver, and 2020 was a prime example.

The charts below show how the spot price of silver changes throughout 2021.

Silver Prices 2020 Chart

What Impacted Silver Prices in 2020?

2020 was a year of ups and downs for silver. In March, when COVID lockdowns hit, silver prices fell to $11, but by August they were peaking at $28 an ounce. By the end of the year, it was back to around $22. The fluctuations and increases have been attributed to three main impacts:

•   The impact of the pandemic around the world – shutting down economies
•   President Trump’s pro-business policies – which saw the U.S. economy reach record highs on the stock market and record lows on employment
•   Depreciation of the U.S. dollar among international investors and financial speculators owing to the 2020 presidential election in November

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

There are two options for investing in silver: buying the metal itself, or on paper. When buying silver, look for 99.9% purity. You can buy bars ranging from 1 ounce to 100 ounces; bullion coins – such as the American Eagle Silver Bullion Coins; and junk silver coins, which are dimes, quarters and half-dollars made by the US Mint prior to 1965 and have small amounts of silver in them.

Paper silver is silver futures contracts – exchange-traded contracts in which the contract buyer agrees to buy a standard amount of silver at a predetermined price on a future delivery date. Each silver futures contract equals 5,000 troy ounces of silver.

Buy Silver Online with CanAm

Adding pure silver bars or silver bullion to your holdings is a terrific way to diversify your assets, and it’s no wonder silver is becoming an increasingly popular investment option for precious metals.

CanAm guarantees to provide superior service throughout the entire process of purchasing bullion. We offer fair and accurate pricing and ensure that your product is delivered safely and securely to your home. Contact our team of investment specialists today if you have any concerns about your investment alternatives.