Silver Spot Price Charts

The Provident Metals silver chart is your real-time monitor for the spot price of silver. You can see how the metal has moved in the past, whether it’s the past 24 hours or as far back as January 1995.

You can also set a specific date range to examine how silver behaved during a particular time. Whatever your needs, the information below is here to help you identify trends associated with the price of silver over time.

What is the Spot Price of Silver?

The spot price of silver is the market price for one troy ounce of silver. For most people, it serves as the foundation of the value of silver for all transactions involving the white metal.

Technically, the spot price is the price for a silver futures contract with immediate delivery. In other words, it’s the point where traders see the future finally become the present. However, it is effectively the market price.

Our 24-hour silver price chart offers today’s price of silver in 1 oz, 1 gram, and 1 kilo increments. You can also explore historical price trends across any timeframe. Pair this chart with our gold spot price and platinum spot price charts to track market movements.

Factors That Influence the Silver Price

As is the case for any other traded commodity, the price of silver is ultimately determined by supply and demand. Increases in supply or decreases in demand tend to lower the cost of silver, while decreases in supply or an increase in demand typically increase the cost of silver.

However, several factors can influence these two drivers of price in one way or another. The first and most notable factor is the increasing demand for silver from industry. Silver is either a necessity or required for optimal efficiency in fields such as electronics, medicine, and, most recently, solar energy.

Since the demand for solar energy continues to rise, so, too, does the industry’s demand for silver’s unrivaled reflective properties. As the demand for silver already outstrips the existing supply, it should portend a rise in price soon.

Another factor is the fluctuating supply rates from the world’s top silver ore producers. Silver is difficult to extract from the ground, and our access to it’s sometimes limited by existing technology’s ability to recover it economically. Silver production has not met demand for several years now, and barring a new discovery or technological breakthrough, there is little reason to assume that it will recover – or that silver prices will drop due to increased supply.

Finally, countries themselves can affect both supply and demand with their trade policies and willingness to import or export silver. New regime changes can mean significant restrictions or the relaxation of restrictions on either side of the transaction.

Silver as an Investment

Silver is a great investment for several reasons. Some of these reasons apply to all precious metal investments, while others are unique to silver itself.

For one thing, silver has been recognized by cultures and countries as a store of value for thousands of years. From one corner of the earth to the other, silver remains an accepted medium of trade and a measure of worth.

Silver can also serve as a hedge against inflation, as it maintains its value relatively consistently in contrast to the instability associated with fiat currency. Silver does appreciate as inflation increases, although not as dramatically as the price of gold due to the reduced consumer demand for silver.

However, the weaker relationship between inflation and silver may make it a better investment for you because of its potential appreciation. There are several metrics, including the gold/silver ratio, that indicate silver may be undervalued right now. So, it might be a good time to buy silver right now.

Finally, silver is an excellent choice for a very simple reason: it’s cheap. Compared to gold, platinum, and palladium, silver is the least expensive precious metal to buy. So, you can invest and rest comfortably in the knowledge that you are in the game, but with low exposure of your budget.

Key Metrics for Silver Investors

Deciding about selling or buying silver can be a difficult one. Knowing when the right time to make a move to buy or to sell has come is crucial, so you should know the key metrics for silver investors.

The first metric is the trend suggested by the silver spot price chart above. Recent performance is important, but you should also look at earlier periods to determine if the current price movement is similar or dissimilar to past times.

You also need the spot price to compare the premiums charged by precious metals dealers. Prices are not static or set by a central organization but reflect the different business goals of each dealer. It pays to shop around.

Finally, look at the gold-silver ratio. The ratio is merely the spot price of gold divided by the spot price of silver. A g/s ratio between 50:1 and 80:1 suggests reasonable price levels. Lower ratios indicate that gold is underpriced, while higher ratios suggest that buying silver might be a good investment.

Silver IRAs

The IRS allows for the placement of precious metals, including silver, into designated individual retirement accounts, or IRAs. The use of silver in your IRA can be an excellent way to diversify and hedge your retirement portfolio.

The only requirement is that the silver you put into your account must be exceptionally pure. Silver coins, rounds, and bars must be at least .999, or 99.9% fine to qualify. You can learn more with our IRA-approved silver page.

How to Sell Silver

If you decide that you want to convert your silver to cash, there are a few steps to take.

First things first, you need to examine the spot price chart. While the listed values are ask, or buy-side, prices and your buyer will use the sell-side (bid) price as a basis, it’s good to know roughly where things stand.

Then, you should shop around online for offers or estimated buy-back prices. Even if you’re planning to sell in person, it’s essential to know what kinds of prices are good deals and which are not.

After that, consider contracting with an online dealer (such as Provident Metals) or a retail one. When sending your silver away, be sure to follow the online dealer’s shipping instructions exactly.

FAQs

What is the primary exchange influencing the silver spot price?

Silver spot prices reflect the value of silver futures contracts traded on the Commodity Exchange, or COMEX. The prices may be influenced by the London Fix, but they ultimately reflect the price for immediate delivery of a quantity of silver.

How does the gold-to-silver ratio impact silver investments?

The gold-to-silver ratio can give an indication about whether gold and silver are properly priced, or one is overpriced and the other underpriced. Ratios below 50:1 indicate gold is underpriced, while ratios above 80:1 tend to suggest that silver is underpriced.

What are the main costs associated with buying physical silver?

To buy physical silver, you must pay the price charged by your chosen dealer. The price includes the spot price plus a surcharge known as a premium. Additionally, you may have to pay for storage options, such as home safes, safe deposit boxes at banks, or dedicated storage vaults.

How does industrial demand affect the silver spot price?

In general, heightening industrial demand tends to yield higher silver prices. There has been a silver shortage, where demand outpaces supply, for several years now.

Can silver be used in a self-directed IRA?

Yes, so long as it meets the IRS purity threshold of .999, or 99.9% pure. Many silver coins, bars, and rounds qualify for placement in an IRA.

What are the risks of investing in silver futures?

Like all futures contracts, silver futures involve the use of leverage when you purchase them. You gain access to and can receive the benefits from an amount of silver well beyond your budget. However, silver’s volatility can potentially put you in situations where you owe more money beyond the amount you invested, and the entity that lent you the money may call the note due at an inopportune time.

How does the strength of the U.S. dollar influence silver prices?

A stronger US dollar or economy has a negative impact on silver prices because people are less inclined to use silver as a safe haven. However, because the industrial demand for silver is so much greater than for gold, silver tends not to be as reliably influenced by changes to the strength of the dollar.

What are the tax implications of investing in silver?

Depending on the state in which you reside or purchase silver, you may have to pay sales tax. Check the rules for your state to confirm your status. It is also important to look at any quirks in the code that may require sales taxes for interstate transactions, such as your deal with Provident Metals is likely to be.If you are selling silver, you are likely to owe capital gains tax on the profits from your sale. Because the IRS considers precious metals to be collectibles, the tax rate could stretch as high as 28% on the overage you realize.