Silver is currently trading at $30.86 USD per ounce, with its spot price last updated on November 29, 2024, at 12:15:44 PM ET.
Silver Spot Price Overview
The spot price of silver represents the current market value at which silver can be bought or sold for immediate delivery. This price fluctuates constantly based on global supply and demand, economic indicators, and geopolitical events. It serves as a benchmark for traders, investors, and industrial users worldwide.
Here's a breakdown of current silver prices by common weight units:
| Measure | Current Silver Price | Change (USD) |
|---|---|---|
| Silver Price Per Ounce | $30.86 USD | +$0.52 USD |
| Silver Price Per Gram | $0.99 USD | +$0.02 USD |
| Silver Price Per Kilo | $992.17 USD | +$16.72 USD |
Prices were last updated on 11/29/2024 at 12:15:44 PM ET.
Understanding Silver's Market Dynamics
Silver's price is influenced by a unique combination of factors, making it a dynamic commodity for both investors and industries.
- Industrial Demand: A significant portion of silver's demand comes from industrial applications, including electronics, solar panels, and medical devices. Economic growth often correlates with increased industrial silver consumption.
- Investment Demand: Like gold, silver is often considered a "safe-haven" asset, attracting investors during times of economic uncertainty, inflation, or currency devaluation. Investment demand can manifest in physical silver (coins, bars) or through financial instruments like ETFs.
- Supply and Mining Output: The global supply of silver is primarily from mining, with Mexico, Peru, and China being major producers. Disruptions in mining operations or new discoveries can impact supply and, consequently, prices.
- Monetary Policy and U.S. Dollar Strength: Interest rate changes and the strength of the U.S. dollar can influence silver prices. A weaker dollar often makes dollar-denominated commodities like silver more attractive to international buyers.
Where to Find Live Silver Prices
For the most up-to-the-minute information on silver's spot price, reputable financial data providers and precious metals dealers offer live feeds. One such source where you can monitor real-time charts and data is APMEX.
Key Considerations for Silver Trading
When observing silver prices or considering trading, it's helpful to keep a few points in mind:
- Volatility: Silver is generally more volatile than gold due to its dual role as an industrial metal and a precious metal.
- Market Hours: While the spot price is considered "24-hour," major price movements often coincide with key market opening times in different global regions.
- Premiums: When purchasing physical silver, the actual price paid will include a premium above the spot price, covering manufacturing, distribution, and dealer margins.
- Forms of Silver: Silver is available in various forms, including bullion (bars, coins), numismatic coins (collector's items), and silver-backed exchange-traded funds (ETFs). Each form has its own characteristics and associated costs.
