Price swings weigh on Thai silver exports

Trade policy uncertainties and silver price volatility are creating challenges for Thailand's silver jewellery industry, as buyers are reluctant to place new orders, according to the Thai Silver Exporters Association.

- SOMHATAI MOSIKA

Sidthisak Limvatanayingyong, president of the association, said foreign buyers are holding off on placing new orders until they see greater stability in silver prices, which have fluctuated greatly since last year.

From May to July 2025, silver prices stood between US$32-$40 per ounce before climbing to about $50 in October. The spot price peaked at roughly $121 in late January 2026.

As of Feb 17, the silver spot price stood at $74.22 per ounce, according to Kitco.com.

Mr Sidthisak said the surge in silver prices has resulted in a 20-30% increase in silver jewellery prices for consumers. In response, some producers are exploring alternative materials or passing on the higher costs to consumers.