Silver Bullion Price ChartsMore information about this product
What is the price of silver?
Silver can be found in many different forms, quality and locations, which means silver has different price points at any one instant in time based on supply and demand. The most universally quoted prices for silver are for the large commercially standard .999 fine pure silver 1,000 ounce bars, depending, of course, if one is buying or selling. To have one price of silver, it would be the price between these buy/sell numbers where traders are not inclined to be a buyer and seller, suggesting a fair nominal price as reference, which is broadly called the spot price of silver at any point in time. Over time, silver prices are recorded, compared and charted to suggest trends and overextended price moves. Besides the most current silver price, comparison to the previous day's final price and the 100-day average of final spot closing prices are frequently monitored.
What silver price charts does Monex produce?
The Silver price charts above feature Monex Spot Prices per ounce, which represent the midpoint between Monex bid and ask prices per ounce, for pure (minimum .999 fine) 1,000-ounce silver bullion bars. The 3-Month Live chart above incorporates the latest Silver Bullion price for the current trading day, while the 6-Month Candlestick, 1-Year Close, 5-Year Close and 10-Year Close charts include the last Silver Bullion price for the previous trading day. These charts incorporate the widely accessible Monex price information available not only to Monex customers and prospective customers, but also to all websites, competitors, researchers and government officials alike. In addition, Monex is pleased to offer our customers and prospective customers a wide selection of other tools, including exclusive and customized charts not available to the general public. Located on special restricted-access pages, these additional charts and tools are available via special links which can be sent to qualified recipients in special emails sent from Monex. For access to these additional charts and tools, please call a Monex Account Representative at the phone number listed at the top of this page.
FREE Guide to Reading Gold and Silver Charts
This handy guide introduces you to valuable tools you can use to identify and prioritize the opportunities in today's gold, silver and platinum markets. The E-Z Guide helps you identify the most common price chart patterns, including: Head & Shoulders formations, Gaps, Island Tops and Bottoms, Bull and Bear Flags, and more. Each section is clearly illustrated and includes explanatory text to help you understand what to look for... and what actions you should consider taking based on your analysis of price trends. To receive a copy of this free guide, call a Monex Account Representative at 1-800-444-8317
What factors influence the price of silver?
As a commodity, the price of silver can and does fluctuate from day to day, and in fact, from minute to minute throughout the day. The current price of silver is the result of all buyers and sellers across the globe meeting at transaction prices, according to combined supply and demand forces. Fundamentally, the availability of supplies of silver bullion – from mines, scrap recovery, government stockpile disposals and investor liquidations – versus demand – from industrial uses, jewelry/silverware fabrication and investor acquisitions – are the driving force behind silver's worldwide marketplace prices. Today, the factors most notably influencing silver prices are (a) the unparalleled degree of geopolitical uncertainty making silver an exceptional investment alternative; (b) ever-increasing industrial uses due to silver's unique reflective and conductive properties, especially in batteries and electronics; (c) growth in demand for medical applications using silver as a more organic antibiotic agent for germicide and disinfectant purposes; and (d) the loss in silver demand from the declining film photography sector. However significant, declining photography demand is replaced, to an extent, by incredible demand from electronics as film's replacement. One sector with exceptional potential is the 'photovoltaic' necessity of silver in solar panels, which could see phenomenal global growth.
What is the spot price of silver?
Technically speaking, “spot” refers to a current rather than future price. Common practice of the metals industry is to publish a benchmark market value, which most universally is a particular day's final settlement price per ounce of the New York commodity futures exchange spot month. At other times of the day, metals dealers assess world markets to infer what they believe to be a benchmark spot silver price. Don't be fooled by e-commerce sites that represent spot prices which do not relate to this common usage in order to hide their markup. Monex Spot Silver Prices have been published for fifty years, along with quoted ask and bid prices of Monex silver products, which have been an industry respected price reference. If a dealer has two different spot silver prices, that suggests buying or selling spot bullion at ask and bid prices, and is not a precious metals industry commonly-used benchmark value for price comparison purposes. The Monex Live Spot Silver Price for its 11-hour trading day can be found here at our Live Prices page and by using the Monex Bullion Investor smartphone app available for both Apple and Android smartphones.
How is the spot silver price calculated?
Silver in varied physical forms and different derivative contracts is bought and sold between buyers and sellers around the world and around the clock. Most universally, the spot silver price represents a nominal price for bulk industrial grade silver relative to the day's settlement price per ounce, basis the current month on the New York Futures Exchange (NYMEX). A Spot Silver Price is calculated based on a virtual non-stop price discovery process of comparible silver vehicles, based on the marketplace's comparative pricing. For example, if the price per ounce of the current “Spot” month is fifty cents less than the NYMEX futures contact price, then at a time when that future contract trades at a given price, say $20, it suggests a spot price of $19.50. Spot Silver rises and falls based on supply and demand factors that influence the price at which buyers and sellers are willing to engage in a transaction. The Monex Spot Silver price is published here on the Live Prices page and is updated throughout its 11-hour trading day. Monex shows one spot silver price at any point in time and it is the midpoint between its ask and bid prices for 1,000 ounce silver bullion bars. Don't be fooled by dealers with spot prices that they set higher than the nominal benchmark price in order to conceal their markups and transactional spread.
How often do spot silver prices change?
Spot silver prices can and do change throughout the day. Monex monitors marketplace activities and adjusts its Ask, Bid and Spot prices as much as 50 times or more throughout its 11-hour trading day. In active market conditions when spot silver prices can become extremely volatile, prices can change almost continuously, moving up and/or down many times in a single minute, and for hours on end. The latest spot prices are listed here on the Live Prices page. Using the Monex Bullion Investor smartphone app. They may also be obtained by calling a Monex Account Representative at the phone number listed at the top of this page.
What is the difference between spot, bid and ask prices?
An “Ask” price is quoted by a dealer who invites an investor to buy, and the “Bid” is a price quoted at which the investor would sell. The amount that the Ask price is greater than the Bid price is the dealer's bid-ask spread. Common industry practice is to reference a “Spot” price, which is a benchmark that relates to the per-ounce price of the current (“Spot”) month on an exchange, such as the New York Futures Exchange (NYMEX) for bulk investment/industrial grade pure silver bullion, for immediate delivery and payment settlement. To reference one price of silver, it would be the price between bullion buy/sell prices where traders are not inclined to be a buyer and seller, suggesting a fair nominal price as reference, which is broadly called the spot price of silver. As far as different forms of physical silver, certain lots may be more or sometimes less desirable than the standard industrial grade .999 fine bars, resulting in Ask and Bid prices that can be much more or far less than the nominal spot price. Monex lists its spot, ask and bid prices on the Live Prices page and on individual product pages, and updates these prices throughout its 11-hour trading day.
What currency are spot silver prices quoted in?
Though silver in its various forms is traded around the world and generally priced in local currency, for the most part, spot silver prices are quoted in U.S. Dollars. Obviously, it is easy to programatically convert the U.S. Dollar spot price to a foreign currency equivalent at some assumed conversion rate. The reasons the marketplace leans toward using a U.S. Dollar figure is that the two most significant longstanding markets – the New York commodity exchange (NYMEX/COMEX) and the London Bullion Market Association (LBMA) – both trade in terms of the U.S. Dollar.
Are spot silver prices the same all over the world?
Because silver is the most bulky of all the precious metals, it is costly and time consuming to transport. Supply and demand dynamics in a particular geographic location can make the nominal benchmark spot price vary to some extent.
How are final silver prices calculated at Monex?
The final “Closing” silver prices at Monex are the last prices quoted for its 11-hour trading day for each of the silver products it offers.
Can I buy silver from Monex at the silver spot price?
Monex does not have two, ask and bid prices to reflect a spot silver price. Monex uses the common industry practice of referencing to a nominal (not a quoted offer) spot price. If you are an investor who desires to purchase authentic investment grade silver in quantity at very attractive prices, please refer to the Monex preferred bullion prices. It should be quite evident that it is not logical to expect to buy industrial and investment grade .999 fine bullion bars at a spot price that is genuine, if a dealer is to be an ongoing business concern. However, there may be times due to an oversupply of a less desirable form of silver that is not deliverable for bullion transactions that can be purchased at levels below standard bullion melt value. An example is junk 90% silver bags. For some investors, such a situation represents a rare buying opportunity to acquire their silver “below the market.” A Monex Account Representative may be your best source of information for determining the silver product, price and timing that fits your needs.
How much does Monex charge above the spot silver price?
Monex does not sell bullion at spot. Monex does make a very competitive market in bullion reflected as Ask and Bid prices for standard personal delivery transactions, which are quoted continuously through its 11-hour trading day. Furthermore, Monex quotes extremely competitive Atlas Preferred Prices for depository delivery. Depending on the size of a transaction, Monex publishes a commission schedule detailing this additional charge. Monex offers a transparent marketplace quoted live online or via the Monex Bullion Investor smartphone app available for both Apple and Android smartphones.
Does the spot silver price include dealer markup or shipping costs?
The spot silver price does not include anything whatsoever, because it is a reference price. In fact, a genuine spot price is truly not a quote at all, because it is not where dealers offer to buy or sell, which is their ask and bid prices. The Monex Ask Price for a particular silver product, be it silver bullion bars, bullion coins or 40% or 90% silver coin bags, is usually higher than the spot silver price. Generally, investors have a preference for depository delivery when it comes to silver because silver is the most bulky of the precious metals. With depository delivery, there are no delivery charges.
Are dealer premiums a fixed amount or percentage over the spot price of silver?
Just as there are many different dealers offering silver products in the marketplace, so too are there many different ask prices and methods for making a market in the various silver products offered. In a free and competitive marketplace, dealers set their buy and sell prices at their discretion, and it is rare to find any two dealers with the same exact price for the same product at any given time. Prices can and do vary from dealer-to-dealer, and from minute-to-minute. Monex prides itself on a reliable two-way, buy/sell marketplace. It is always a good idea to “shop around” and compare the various prices, quality and services available for the silver products you desire to acquire before you make a purchase.
Why aren’t your final prices listed on your website?
At Monex, with 50 years of experience and hundreds of thousands of customers executing over $55 billion in physical precious metals transactions, you cannot have a “one-size-fits-all” attitude. To meet the requirements of each individual customer on a specialized basis, you cannot average the offerings to try to fit all. Monex endeavors to fulfill the requirements of each customer on an efficient basis for the benefit of the customer and the customer's overall market pricing advantage.
Why is the Monex spot price different than other companies’ spot prices?
Monex, as America's oldest dealer specializing in a reliable two-way precious metals market, its billion-dollar volume of business enables it to offer an extremely competitive and reliable two-way buy/sell marketplace for precious metals investment transactions, and especially for silver bullion. Please see the Monex Atlas Preferred Prices for pricing relating to the longstanding depository delivery services it offers. Monex believes it is best to offer transparent market pricing as quoted in Ask and Bid terms, and referencing its midpoint as a spot nominal price, which may be less than other companies' spot prices. Over the years, Monex spot prices have tracked the COMEX and NYMEX spot prices for precious metals almost perfectly. In fact, the correlation of those prices is available for review in our company brochures and on our website.
Why have silver prices been dropping in recent years?
Although most recently the silver bullion market has been on a generally positive path, silver is down significantly from its high price of about $50 per ounce a few years ago. You see, though the U.S. Dollar has significant fundamental weakness, and some say will sooner or later fail altogether, it seems to be in better shape than many other troubled currencies around the globe. Furthermore, America's stock market seems to be in a bubble advancement phase, and few investors wish to exit the train until it shows signs of failure. This presents a less bullish scenario for alternative investments such as precious metals and puts downward pressure on prices.