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What is the current price of silver per ounce today?

Silver’s price as of 9 a.m. ET was $31.02 per ounce. That’s up 0.89% from the previous day and up 29.63% since the beginning of the year.

The lowest price for the precious metal in the last 24 hours was $30.62 per ounce per ounce. The highest was $31.49 per ounce.

Silver spot price

MetalToday24-hour changeYTD
Silver price per ounce
Silver price per gram

Silver’s spot price is the price at which the precious metal can be bought or sold right now. That’s different from futures contracts, where you secure silver for delivery at a later date.

XAG/USD represents silver’s spot price in 91Ӱ dollars. The price in euros is XAG/EUR. For British pounds, it’s XAG/GBP. The market is active 24/7, so prices are constantly in flux.

Silver price chart

This chart shows how silver’s spot price has trended over the last year. The data is updated at 9 a.m. ET and doesn’t have intraday lows or highs.

As of 9 a.m., silver was up 29.63% since Jan. 1. It hit its 52-week high of $32.51 on May 19, 2024. The 52-week low was $20.69 on Oct. 2, 2023.

The spot price represents the current market rate, or what the price is “on the spot.” Like gold prices, silver prices are typically provided in troy ounces. One troy ounce equals 1.097 standard ounces.

Various factors drive spot prices for silver. Many investors opt to trade using futures contracts rather than spot prices.

Precious metals spot prices

You can trade four main precious metals via physical bullion, exchange-traded products or futures contracts. They are silver, gold, platinum and palladium. All trade 24/7 in various currencies.

Gold/silver ratio

One metric people follow closely is the gold/silver ratio. It’s the price of an ounce of gold divided by the price of an ounce of silver. As of 9 a.m. ET, that was 76.48.

The gold/silver ratio is significant because it is a tool for comparing the relative values of these two precious metals over time. This ratio helps investors and traders understand how the value of gold and silver fluctuates compared to each other.

The high ratio suggests that gold is more expensive than silver, indicating a market preference for gold as a haven, which can mean economic uncertainty. Conversely, a lower ratio implies that silver is gaining value or that gold is becoming less expensive.

This ratio can also indicate potential buying opportunities. For instance, if the ratio is historically high, some investors might see it as a cue to buy silver, expecting it to revert to a long-term average.

The gold/silver ratio is also used to gauge economic health. Shifts in the ratio reflect changes in market sentiment and economic conditions.

Silver price history

Silver prices reached their highest peak in January 1980, at around $49.45 per troy ounce. Conversely, their lowest trough was in February 1993, at around $3.56 per troy ounce.

Silver prices fluctuate based on multiple variables, such as supply and demand, geopolitical events, currency strength, economic data, and changes in investment trends. The historical spot price of silver has been characterized by high volatility, with fluctuations over the decades.

1970 - 2005

In the mid-1970s, silver was valued at less than $10 per ounce. But it saw a sharp rise toward the end of the 1970s, peaking at over $49 per ounce by 1980.

Despite this sharp rise, the prices fell back down, and by the late 1980s, silver was trading under $10 per ounce again.

2006 - 2024

Silver prices didn’t surpass $10 per ounce until 2006.

The Great Recession marked another significant period for silver prices. In March 2008, the price nearly doubled to about $20 per ounce, potentially driven by the global banking crisis and subsequent economic measures like quantitative easing.

But this was followed by another sharp decline, bringing prices back to around $10 per ounce in October 2008. Silver experienced another historical climb, reaching above $45 per ounce in April 2011.

This history reflects the silver market's deep drawdowns and high run-ups. Various factors, such as economic crises, market speculation and investor behavior, influence these market shifts.

Silver future prices

Global exchanges exist in London, Hong Kong, Zurich, New York and Chicago. They allow for nearly 24-hour silver trading. The COMEX plays an essential role in setting silver spot prices. This branch of the Chicago Mercantile Exchange uses futures contracts to project silver prices.

Silver futures are contracts to buy or sell silver for a set price at a set future date.

Silver ETPs

Silver exchange-traded products have a variety of structures. These include closed-end funds and grantor trusts.

ETPs typically operate by holding silver bullion in audited storage locations. They trade like stocks on exchanges. Investors buy shares that represent fractional ownership of the stored silver. Note that management fees and other expenses can impact returns.

How to invest in silver

Investing in silver can be approached in several ways, each with unique benefits and considerations:

  1. Bullion. This direct method involves owning physical silver bars and coins. But investors must consider storage and insurance costs, dealer markups, and the bid-ask spread when buying and selling.
  2. ETPs. These are available in most brokerage accounts and offer a more accessible alternative. But investors face ongoing annual expense ratios and possible tracking errors relative to the spot price of silver. It's important to note that redeeming shares for physical silver is only sometimes guaranteed.
  3. Futures.Futures allow for speculation or hedging against price movements. Trading these derivatives is done on margin, making it highly volatile and potentially unpredictable. It requires a thorough understanding of the market and its risks.

Is buying silver a good investment?

Various economic factors affect silver’s price movement. Your objectives, risk tolerance and time horizon also impact whether silver is a good investment.

Silver is one way to diversify a portfolio that includes stocks and bonds. But it can be volatile and risky. Consider your options before investing in silver.

Frequently asked questions (FAQs)

No, gold is rarer than silver. And platinum is rarer than both silver and gold.

The rarity of a precious metal is understood through its mass fraction. That’s how much of the metal can be found per billion kilograms of the Earth’s crust. Silver is present at 75 parts per billion, while gold is present at four parts per billion.

Silver’s effectiveness as a hedge against inflation is mixed and varies by time and location. Some studies indicate that silver does not correlate well with consumer price movements in the 91Ӱ But there has been some correlation in the U.K. market over the long run.

But for a more reliable hedge against inflation, investors might consider other commodities like energy and agricultural products. These often have a more direct and consistent relationship with inflationary trends.

Blueprint is an independent publisher and comparison service, not an investment advisor. The information provided is for educational purposes only and we encourage you to seek personalized advice from qualified professionals regarding specific financial decisions. Past performance is not indicative of future results.

Blueprint has an advertiser disclosure policy. The opinions, analyses, reviews or recommendations expressed in this article are those of the Blueprint editorial staff alone. Blueprint adheres to strict editorial integrity standards. The information is accurate as of the publish date, but always check the provider’s website for the most current information.

Tony Dong


Tony Dong is a freelance financial writer with bylines in 91Ӱ News and World Report, the NYSE, the Nasdaq, The Motley Fool and Benzinga. He lives in Vancouver, Canada and is an avid watch collector.

Farran Powell


Farran Powell is the lead editor of investing at 91Ӱ Blueprint. She was previously the assistant managing editor of investing at 91Ӱ News and World Report. Her work has appeared in numerous publications including TheStreet, Mansion Global, CNN, CNN Money, DNAInfo, Yahoo! Finance, MSN Money and the New York Daily News. She holds a BSc from the London School of Economics and an MA from the University of Texas at Austin. You can follow her on Twitter at @farranpowell.