Silver prices in Georgia have declined in recent weeks following fluctuations in global precious metals markets, although the metal has still seen significant gains over the longer term. On international exchanges, silver is currently trading at around $80, reflecting strong volatility, with prices up nearly 145% over the past year.
In Georgia, the wholesale purchase price of silver has fallen to around GEL 11 per gram, while retail prices range between GEL 15 and GEL 20 per gram, according to industry representatives. Despite the recent correction, prices remain significantly higher compared to earlier levels.
Market participants say prices have shifted sharply over the past year, rising from around GEL 7.5 to as high as GEL 15 per gram before stabilizing near current levels. Traders note that recent fluctuations have put pressure on wholesale buyers, though there is hope for relative stability going forward.
The silver market movement mirrors broader trends in precious metals, as gold prices have also remained elevated despite recent corrections. In Georgia, gold continues to trade at high levels, ranging from GEL 300 to GEL 370 per gram, with high-purity bullion exceeding GEL 420 per gram, reflecting ongoing global price volatility.
