Silver Spot Price & Charts
Live Silver spot prices per troy ounce and its 24-hour trend. Below you will find a full, interactive Silver price chart and popular Silver bullion products.
Through its classification as a precious metal, silver is considered a valuable commodity. Being relatively scarce and having unique characteristics has contributed to its desirability, though the price of silver tends to fluctuate quite frequently. Before making an investment in the metal, it’s important to check the silver spot price to see how the market is doing.
Popular Silver Investment Products
Understanding the Spot Price
To know if you are getting a good deal on your investment or a good return for your sale of silver, you should look at the spot price of the metal. The spot price is what the current marketplace rate will be if your transaction in the commodity or currency were to be immediately delivered. While the rate may have slight variances according to both the time and location of the exchange, the global economy experiences fairly uniform spot prices once exchange rates are taken into account. Spot prices are set according to futures contracts scheduled for the next month, and the volume of these contracts are factored into the spot value.
Understanding the Fluctuations
The silver price today may rise or fall tomorrow, and these adjustments depend on a number of factors. Trying to pin down the cost of silver can be a complex process, which is why looking at the spot price chart can help you determine how the prices have moved in the recent past. The factors that can drive the price up or down include the following:
Supply and Demand
Silver is valuable, but there is a constant demand for a material that is in short supply. Short-term spikes can occur according to interruptions in mining ventures, as can announcements for new uses for the material. These new products will generate additional purchases in areas where there hadn’t been a prior need. New and existing technologies are helping to replace some silver applications while at the same time creating new uses through green applications.
When the economy is going well, many people will invest in precious metal items, such as luxury products. In emerging markets, growth or trends can influence demand, which then influences price. In the global economy some people believe silver ranks with gold as a safe investment that retains its value vs. purchasing fiat paper currency. In times of uncertainty or crisis, the prices of precious metals often tend to rise.
Understanding the Silver Prices
When looking at the current silver spot price and your purchase, it is important to remember that the Spot Price of Silver is for a troy ounce of raw silver that has just been mined from the earth. Purchasing medallions or bars is a distant transaction from the first receipt of raw silver. This is for direct purchase from the mine and doesn’t include any of the costs of refining, transporting, pouring into molds, minting/stamping, assay, packaging (if any), and distribution of the final product to you the investor. The price you pay for an item includes the spot price with an added premium to cover the manufacturing, operational, distribution and retailer costs. However, BGASC provides some of the most fair and reasonable prices for silver relative to the spot price. We have a huge silver inventory to select from which includes bars, bullion, coins and a range of other items. You can shop by weight or according to brand.
Make Your Purchase
Browse the huge selection at BGASC to get started investing in silver. Our spot price chart will give you an idea of the financial benefit of your investment, and our fast, secure shipping guarantee will get your purchase to you quickly. You can shop with certainty with BGASC, as we are a BBB accredited company and have received stellar reviews from our customers. Make your purchase today!