Price of Silver in 2005

Demand for silver increased to its highest level in five years in 2005, as strength in jewelry and industrial items offset softness in photography and coins.

View our charts below to see what silver prices in 2005 were doing throughout the year.

Silver Prices 2005 Chart

What Impacted Silver Prices in 2005?

In 2005, the average price of silver rose 10% from $6.65 per ounce in 2004 to $7.31 per ounce.

According to the Silver Institute, for much of 2005, investment demand in silver increased, matching movements in gold prices. Demand for silver for fabrication totaled 864.4 million troy ounces, a 3% increase from 839.4 million ounces in 2004 and the highest level since 866.8 million ounces in 2001.

Nearly half went to industrial products, particularly in the electronics and electrical industries, with jewelry and silverware coming in second. According to the research, China and India accounted for the majority of the increase in demand for jewelry and silverware, with increased demand of 20%.

Mine output reached a new high of 641.6 million ounces, up 3.4% from 620.4 million ounces in 2004.

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.

Is Silver a Good Investment in Uncertain Times?

Because of its ability to endure inflation and periods of economic insecurity, silver has become a valued commodity during recessions and depressions.

It’s been found that even when paper money loses value due to economic downturn, the value of silver will not only remain stable but may even rise.

This could make silver a good investment during times of inflation, as when the price of goods and services goes up, the value of paper money usually decreases.

Buy Silver Online with CanAm

Silver is a great way to secure your future, whether you are a first-time or a seasoned investor. Here at CanAm, we understand that investing in precious metals is essential. We price our silver fairly and accurately to ensure you get the best deal, and we always go above and beyond for our customers.

Start shopping today if you’re ready to add pure silver bars or silver bullion to your portfolio. Or, if you have any questions about your investment options, get in touch with our team.