Silver Price Today

The silver spot price represents the current market price for immediate delivery of one troy ounce of .999 fine silver, quoted internationally as XAG/USD. Unlike gold, silver occupies a unique dual role as both a monetary metal and an essential industrial commodity, with roughly half of annual demand coming from sectors like electronics, solar energy, electric vehicles, and medical devices.

Silver has served as money for thousands of years. Ancient civilizations from Greece and Rome to China and India minted silver coins for trade, and the word for money in many languages derives from the word for silver. Although most nations abandoned silver coinage in the 20th century, silver remains a recognized store of value and is held by investors worldwide in the form of bars, coins, and exchange-traded funds.

The COMEX division of CME Group is the primary venue for silver price discovery. COMEX silver futures (ticker SI) trade in contracts of 5,000 troy ounces and set the global benchmark that dealers, refiners, and jewelers reference. The LBMA Silver Price, administered by CME Group and set once daily at noon London time, serves as an additional benchmark for the physical market.

Silver's relationship with gold is closely watched through the gold-silver ratio, which measures how many ounces of silver are needed to purchase one ounce of gold. Historically averaging around 50-60, this ratio helps traders assess whether silver is relatively undervalued or overvalued compared to gold. When the ratio stretches above 80, silver has often outperformed gold in subsequent rallies.