Sterling Silver Price Calculator – Belgium
Here’s a comprehensive table summarizing all you need to know about Sterling Silver prices in Belgium:
| Aspect | Details |
|---|---|
| Current Price in Belgium (per ounce) | €29.850 (November 2024) |
| Historical High (per ounce) | €32.239 (October 2024) |
| Price Change (Last Year) | +31.04%1 |
| Average Price (Last Year) | €25.2611 |
| Lowest Price (Last Year) | €20.283 (January 22, 2024)1 |
| Supply and Demand | Fluctuates with market dynamics |
| Global Economic Influence | Impacted by economic policies and USD strength |
| Industrial Demand | High demand in electronics and clean energy |
| Inflation and USD Correlation | Silver prices often rise with inflation and weak USD |
Key Factors Affecting Sterling Silver Prices
- Supply and Demand: The balance between silver production and consumption significantly influences prices3.
- Industrial Usage: Silver’s extensive use in technologies like solar panels and electronics directly impacts its price7.
- US Dollar Strength: The price of silver typically has an inverse relationship with the US dollar’s value4.
- Global Economic Conditions: Economic uncertainties and market volatility can drive investors towards silver as a safe-haven asset3.
- Geopolitical Events: Political instability and global tensions can lead to increased demand for silver4.
- Mining Costs: Changes in silver extraction expenses can affect its market price3.
- Investor Sentiment: Speculative trading and market perception can cause short-term price fluctuations3.
- Inflation and Interest Rates: Silver is often viewed as a hedge against inflation, and its price is sensitive to interest rate changes3.
Future Outlook
Analysts predict a potentially bullish trend for silver prices in the coming years:
- Bank of America Corporation expects the average silver price to reach $28.14 per ounce in 2024 and $35.38 per ounce in 20258.
- The ongoing deficit in silver supply and strong industrial demand, especially in clean energy applications, are expected to support higher prices8.
- However, factors such as potential interest rate hikes and economic slowdowns could temper price gains5.
Investors should keep in mind that silver prices can be volatile and are influenced by a complex interplay of global economic factors.