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Spot is quoted for fine silver. Sterling and most coin and jewelry silver are alloys, so metal value scales with purity. The figures below are melt value at the current spot price: what the silver content is worth before any dealer premium or buy-back discount.
| Purity | / gram | / troy oz | / dwt | / kilo |
|---|---|---|---|---|
| .999fine silver · bullion | — | — | — | — |
| .958Britannia silver | — | — | — | — |
| .925sterling silver | — | — | — | — |
| .900coin silver | — | — | — | — |
| .800800 silver | — | — | — | — |
DERIVED: SPOT × PURITY FRACTION · TROY OZ = 31.1035 G · DWT = 1.5552 G
The spot silver price is the price at which silver can be bought or sold for immediate delivery, as distinct from a futures contract settling at a later date. Silver sits between two worlds: it is a monetary and investment metal like gold, and an industrial input consumed in manufacturing. That double role is why it reprices continuously through the trading week under the forces below, and why it is often more volatile than gold.
Silver has the highest electrical and thermal conductivity of any metal, so it is used throughout electronics, electrical contacts, brazing alloys, and chemical catalysts. Much of this demand is consumed in small quantities that are rarely recovered, which ties part of the price to the pace of manufacturing and the wider business cycle.
Silver paste forms the conductive contacts on most solar cells, making photovoltaic manufacturing a significant and closely watched source of industrial demand. Changes in solar installation plans, and manufacturers' efforts to use less silver per cell, both feed into expectations for the metal.
Investors hold silver as bars, coins, and exchange-traded products, often for the same reasons they hold gold: as a store of value and a hedge against inflation or financial stress. Because the silver market is much smaller than the gold market, shifts in investor buying and selling can move its price sharply.
Silver is quoted in US dollars, so a stronger dollar tends to make it more expensive for non-dollar buyers and weigh on the price, while a weaker dollar tends to support it. Silver pays no interest, so higher real interest rates raise the cost of holding it relative to bonds and cash.
Much of the world's silver is recovered as a by-product of mining other metals, chiefly lead, zinc, copper, and gold. Output therefore depends heavily on the economics of those metals rather than on the silver price itself, so supply responds slowly when silver prices rise or fall. Recycling of scrap adds to supply when prices are high.
The ratio is the price of an ounce of gold divided by the price of an ounce of silver. Traders watch it as a gauge of silver's value relative to gold: a high ratio means silver is cheap against gold, a low one that it is dear. Live, from the two spot quotes: — . The gold price itself is tracked on the sister site SpotGoldPrice.net.
The spot silver price is the current market price for one troy ounce of .999 fine silver for immediate delivery, quoted in US dollars as XAG/USD. It is the benchmark that bullion dealers, refiners, and silversmiths price against.
The live quote refreshes about once a minute while the page is open. The daily price history used for the chart and for the change versus previous close is recorded once a day after the New York close.
Spot is the wholesale benchmark for raw metal. Dealers add a premium to cover minting, fabrication, shipping, insurance, and margin, and they buy back below spot. Because an ounce of silver is worth far less than an ounce of gold, those fixed costs make up a larger share of the price of a silver coin or bar.
Spot silver trades nearly around the clock from Sunday 22:00 UTC to Friday 22:00 UTC, with a short daily settlement break at 21:00 UTC. It does not trade over the weekend, so the price is unchanged from the Friday close until Sunday evening. The session indicator at the top of this page reflects that schedule.
Fine silver is .999 pure and is the form spot is quoted for. Sterling silver is .925: 92.5 parts silver per hundred by weight, the rest another metal, usually copper, added for hardness. A sterling item's metal value is its weight times the spot price times 0.925, which is what the table and calculator above compute.
The gold/silver ratio is the price of one troy ounce of gold divided by the price of one troy ounce of silver: how many ounces of silver one ounce of gold buys. This page computes it live from the two spot quotes and shows it in the metals rail under the chart and in the price drivers section.
No. SpotSilver.org is an informational price tracker. It does not sell bullion, execute trades, or give investment advice.
Every figure on this page is derived from the two sources below. Nothing is simulated, interpolated, or modelled.