In much the same way that gold prices have risen over the past decade, silver prices have also soared. The most significant growth in silver prices has occurred over the last two years, largely tied to accelerated industrial demand and investment spikes. This precious metal has become incredibly attractive to both investors and industries, as demonstrated by rising prices and limited supply.

If you have invested in silver as part of your wealth portfolio, you are in a great position. Choosing to sell your silver jewellery or silver Krugerrand coins now will lock in a great profit, so you can get cash fast if you need to. On the other hand, holding on to your silver can prove to be an excellent long-term investment.

Rising Silver Prices over Recent Years:

2024: Although the price has been on the rise for years, silver was still much cheaper at the start of 2024, between R500 and R700 per ounce. Prices slowly started to rise, largely because of increased global demand (of both investors and relevant industries) and inflation.

2025: This was the year that everything changed, and silver prices saw a huge surge. In the early months of 2025, silver was valued between R590 and R600 per ounce. By the later months of 2025, prices had skyrocketed to about R1,300 per ounce. Ongoing economic factors, as well as demand from industries and investors, played a big role in this price surge.

2026: It is still early in the year, but prices have fluctuated around R1,500. We expect silver prices to continue rising steadily throughout the year, and encourage potential investors or sellers to stay informed about market trends before making decisions.

Why is Silver on the Rise?

Silver and gold prices in South Africa are linked to numerous global events and trends. Unlike gold, however, silver plays a big role in green technologies and has many industrial uses. Silver is a key component in the photovoltaic cells of solar panels. With a worldwide rise in the use of renewable energy, the demand for solar panels has been undeniable. This, of course, directly impacts the demand for and cost of silver.

Silver is also used in electronics, medical equipment, batteries, and water purification. Apart from this, the price of silver also correlates with local demand vs supply, fluctuations in the South African rand (as silver is priced in rand) and rising global prices.

Buying or Selling Silver? If you have stored silver Krugerrands and are wondering where to sell or buy Krugerrands in Cape Town, you’re in the right place. We offer fair evaluations at our store, and also buy gold and jewellery. Our team will guide you through the process and offer you insight and advice is you are unsure about how to proceed. CONTACT US today to get started.