Silver Spot Price
Current price of Silver
Provided in this comprehensive chart is the current spot price of silver. This chart also allows you to compare other commodities with the price of silver and has the option to expand it's view by the hour, day, month and year.
Explore the chart and see how silver has performed over the years.
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Buying Silver at Spot Price
Raw unrefined silver ore trades at spot price. While finding spot deals on our fire sale page and various secondary market retailers is possible, generally speaking, this price is what the mining companies sell the raw ore to refiners for. Premiums are added on at the refiner and mint levels for costs associated into creating bullion products in there final form.
Premiums vary depending on manufacturer operations. For example, some mints do not refine precious metals, instead they buy premade blanks that they then mint into bullion coins, bars and rounds. This can increase the price associated with the final product. This is also why things like bars tend to have a lower premium because these offer a more efficient and expedited manufacturing process.
Silver: Supply and Demand
Commodities and their associated and ever fluctuating prices are set largely based off of supply and demand. The spot, bid and ask price is carefully measured by the London Bullion Market Association using current, theoretical and provisional mining contracts and is updated every second. This encompasses contracts and futures on COMEX, NYMEX, SGE and other commodity market places.
Timing the Silver Market
One of the convenient things about the current price of precious metals is that on average it's pretty safe from market volatility. While it's not uncommon to find stocks and futures on NYSE have a monstrous loss or huge gains, it's as rare as the metal itself to see those type of numbers in the metal market. To further protect against increased volatility and to buy at an annual average, many folks choose to dollar cost average their target asset. By purchasing once a month over 1 year, 5 year or even 10 year period, you effectively purchase at that time periods average cost. This is what most commodity investors do because gold and silver are looked at as long term investments and used to protect ones wealth.
This also puts investors in a position to unload their investment in the event of economic turmoil which usually sees a large increase in the value of commodities.