Silver price is an investment asset that has seen significant price volatility over the years. Like gold, the metal has often been a safe haven for speculators seeking a non-monetary alternative to paper currencies. Its high correlation to Bitcoin has made it a popular choice for crypto investors as well, which can sometimes lead to a tug of war in the silver-gold ratio as traders move funds between the two assets.
We provide our silver investors with up to the minute live Silver spot prices for various Silver weights including ounces, grams and kilograms. These spot prices are based on trading activity on the COMEX, or New York Mercantile Exchange. The spot price of silver is what most dealers will base their pricing on, adding their markup which can range from less than one dollar to thousands over the spot silver price depending on the product and scarcity.
Decoding the Silver Market: Understanding Factors that Influence Silver Prices
It’s important to note that the silver price you see listed on a website is typically in USD, since most precious metals are priced in USD. Most websites will also list the spot price in several other major world currencies, making it easy to figure out how much your local currency should be worth in USD to get an idea of what the current silver price is in your area.
Another factor that can add to the overall silver price you see is whether or not the dealer accepts credit cards for payment. Most dealers will charge a small fee to cover the cost of credit card transaction processing, which is worked into the overall spot silver price. For this reason, we always recommend paying with a bank transfer or check as these methods do not require any fees from the dealer to process.