What Was the Price of Silver in 1990?
Find the 1990 silver price. Gain insight into its historical context and learn how to independently verify commodity data.
Understanding historical commodity prices offers insights into past economic conditions. Examining the price of silver in a specific period, such as 1990, can shed light on its valuation trends and how various factors shape the worth of such assets over time.
Silver Prices in 1990
In 1990, the Comex spot price for silver averaged $4.81 per troy ounce, marking its lowest annual average since 1977. The yearly high for silver reached $5.39 on January 12, while its lowest point was $4.01 on December 14. Silver experienced a notable decline throughout the year, losing $1.01, which represented a 19.15% decrease from its starting value. The closing price for silver on December 31, 1990, was $4.21 per troy ounce.
Influences on Silver Prices in 1990
Several factors contributed to the silver price trends observed in 1990. The metal experienced a continued decline, with inflation-adjusted prices in early 1991 reaching their lowest levels since the 1960s. While total silver supply saw a modest decrease of 2.7% from the previous year, industrial demand for silver, including its use in photography, jewelry, and silverware, rose by 6.0%. Nearly half of this increased demand came from India, a significant consumer of silver for jewelry and decorative items.
Despite the rise in fabrication demand, silver struggled to gain momentum throughout the 1990s, often trading between $4 and $6 per ounce. Its role as an investment asset diminished during this period, with the metal more often viewed as a byproduct of mining operations. Additionally, the recovery of silver from scrapped industrial items and jewelry saw a decline of over 13% globally, further influencing market dynamics.
Finding Historical Silver Price Data
Financial data websites and commodity exchange archives often provide comprehensive records, allowing users to track past valuations. Government geological surveys and historical financial news publications also serve as credible sources for this information. These platforms typically present data in common units, such as per troy ounce, and may offer daily, weekly, or monthly averages.
Online resources like SilverPrice.org, APMEX, StatMuse Money, and Money Metals Exchange are examples of platforms where historical silver prices can be investigated. These sites provide charts and detailed historical data, enabling individuals to research silver’s performance over extended periods.