COMMODITY · USD/oz
Silver
A metal with a dual nature: a precious metal and also a material for the solar and electronics industries.
Price$56.67+$1.12 · +2.03%vs previous day
Price
US dollar futures| Price | $56.67 (USD/oz) |
|---|---|
| vs previous day | +2.03% |
| 52-week high | $121.30 |
| 52-week low | $41.13 |
| 52-week position | 19% (0% = 52-week low, 100% = 52-week high) |
Silver: what it is
Silver is grouped with gold as a leading precious metal, but about half of actual demand is industrial. It has the highest electrical conductivity of any metal and is widely used in solar panels, electronics and electric vehicle parts.
Silver prices therefore show a dual nature, affected at the same time by precious metal demand (safe haven and jewelry) and industrial demand (the economy).
What has moved the price
- Industrial demand
Changes in industrial demand, such as the expansion of solar power, feed directly into silver supply and demand. The Silver Institute publishes annual supply and demand statistics.
- Moving with gold
Because both are precious metals, silver has often moved in the same direction as gold, though its smaller market has tended to produce larger swings.
- Gold-silver ratio
Some gauge the relative position of the two metals by where the gold-silver ratio sits in its historical range. This is only a summary of past ratios and says nothing certain about the future.
This describes general tendencies observed in the past and does not forecast the direction of future prices.
Reading the unit
Like gold, silver trades per troy ounce (about 31.1 g). The gold price divided by the silver price is called the gold-silver ratio, a long-standing measure for comparing the relative price of the two metals.
Points to keep in mind
- Silver has a smaller market than gold and tends to be more volatile.
- With a high share of industrial demand, it has weakened during economic slowdowns in some cases despite being a precious metal.
This page is information based on public data and is not advice on any commodity or related financial product. The figures summarize current and past facts and do not forecast future prices.