Our silver price charts are constantly updated across multiple currencies to help gold, silver and precious metal investors make informed decisions about when is the best time to buy and sell. Our silver price chart will help you to easily identify trends, stay up-to-date with market movements and have instant access to the current silver spot price.
Our silver price chart shows the current silver bullion price, giving you the opportunity to track the price of silver and spot the best time to make your investment. We provide real-time silver price updates and historical data that allow you to see how the silver spot price changes over time and to identify long-term pricing trends.
When viewing the silver price chart on GoldCore, you may pick between four different currencies below the chart: Euros, British Pounds, US Dollars, and Australian Dollars.
You can also view the silver price chart according to a number of different time frames including the last 24 hours to see the current silver price all the way up to ten years of historical silver spot prices.
If you're looking to buy ounce units of silver, GoldCore gives you the option of a range of silver coins and silver bullion bars.
Also read: How much does a silver bar weigh?
The live silver price is known as the silver spot price. It is taken from the futures market. It is the benchmark price on which all retail investment silver products are based. The silver price is traditionally quoted in troy ounces.
GoldCore quotes a live silver spot price per ounce in the United Kingdom, with silver coins and bars available for immediate delivery or storage. The current spot price for an ounce of silver is quoted at the top of this page. This is the pound sterling price per ounce. Whilst silver is traded on the international markets in US dollars, this price has been converted using the exchange rate between the pound sterling and the US dollar. This has been done for the convenience of UK investors who want to buy and sell silver coins and silver bars using their British currency.
Silver trades 24 hours a day, Monday to Friday. It is traded across the globe and is one of the largest markets by volume. The silver price is constantly changing. The price is reflective of the equilibrium between supply and demand for both physical silver and silver derivatives.
Silver is often a co-product during the mining of other metals, such as copper. Silver has a larger supply volume than gold, but it is increasingly hard to extract. Whilst mining still accounts for a large proportion of supply, the amount sourced from recycling is also significant. How much is mined and how much is recycled can fluctuate depending on economic outlook, energy costs, and reclamation values.
It is also worth noting that often it can be uneconomical to extract and recycle small amounts of silver from technological items such as mobile phones, so very often it is not recycled. This increases the pressure on primary mine supply.
When it comes to demand, silver is the most versatile of the precious metals given its prominent role in both the investment and industrial spheres. It is both a commodity and a monetary metal.
Silver has been referred to as the 'indispensable metal' so far is its reach across industry. It is extremely malleable, ductile and is the most conductive of the metals. This means it lends itself well to a number of industrial uses including telecommunications, medical and energy technologies.
Because over 50% of silver demand is from industry (rather than for investment purposes) its price can be far more affected by economic factors than gold. Whilst many industries that have long used silver have disappeared, they are continuing to be replaced by new ones who sustain (if not increase) demand for silver. For example, the use of silver in photography is declining however the health and solar energy sectors are more than making up for this.
Demand is also driven by investor demand for physical bars and coins, as well as silver-backed ETFs. Investors like to invest in it due to its dual-role as a monetary and industrial metal, meaning it has place in both times of economic growth and decline.
Investors choose to own silver as it acts as a hedge against inflation and uncertainties such geo-political, systemic and monetary risks. It is a store of value and has preserved its purchasing power over long periods of time.
Also read: Is buying silver a good investment?
The price of silver is quoted in troy ounces.
Troy ounces are often abbreviated to "T.Oz." or just "Oz." A troy ounce is different to a standard (avoirdupois) ounce, as they are slightly heavier. 1 troy ounce = 31.1 grams, whereas one standard ounce = 28.35 grams.
Silver is priced and traded internationally in US dollars. It is the US dollar price of silver that is referenced in the financial media. To determine the silver price in your national currency a conversion at the exchange rate between the US dollar and your national currency is required. We have conveniently done this for both Euros and pounds Sterling on this page.
It is the front month futures contract with the most volume that tends to determine the spot price of silver today. Generally the nearest contract has the least volume as it is closest to expiring and so positions may have already been rolled. So we look to the contract with the most volume as this is where participants are trading for either hedging or speculation purposes. This month is referred to as the spot month.
Silver products are often purchased by retail silver investors in gram format. While one-gram silver bars or ingots are available through some precious metals brokers, the most popular gram format silver bars are 100g silver bars, 250g silver bars, 500g silver bars and one-kilogram silver bars (1,000g).
When purchasing a bar that is measured in grams, it is necessary to know the silver price per gram. As silver is priced in troy ounces and a troy ounce is equal to 31.1 grams, to determine the silver price per gram, we divide the troy ounce price by 31.1.
The price for an ounce of silver can be found at the top of this page. Silver is priced in troy ounces, which differ from regular ounces. Whenever you see a reference to the price of an ounce of silver, it is the troy ounce price. This is the wholesale price against which all retail silver products are priced. It makes it easy to compare the prices of the different silver products on offer.
If you're looking to buy ounce units of silver, GoldCore gives you the option with a range of 1 oz coins and 500 oz and 1,000 oz bars.
At the top of this page, you'll see the current pricing for an ounce of silver in the United Kingdom. This is the price per troy ounce in pounds Sterling, which has been converted from the US Dollar price.
GoldCore provides the current silver rates per ounce in the United Kingdom in pounds Sterling, but can also be shown in Euros, US Dollars and Australian Dollars, simply by selecting the currency of your choice.
We don't offer 1kg silver bars, however we do offer 100 ounce and 1,000 ounce bars, the equivalent of just over 3kg and 30kg respectively. Investors choose these LBMA-approved refinery-produced bars as they are a manageable weight but have a lower premium than smaller bars and coins.
A troy ounce is equal to 31.1 grams. So, to work out the 1kg silver price in the UK simply divide 1,000 by 31.1 and multiply by the current silver spot price (available at the top of the page) then add or subtract the current premium for the bar.
We calculate the price of our bars based on three components:
Those looking to take delivery of silver coins or bars in the UK should be aware that VAT will be charged. If you choose to store your coins with us then VAT is not charged.
Silver bullion is priced and traded internationally in US dollars. It is the US dollar price of silver that is referenced in the financial media. To determine the silver price in your national currency a conversion at the exchange rate between the US dollar and your national currency is required. We have conveniently done this for both Euros and pounds Sterling on this page.
If you're looking to buy ounce units of silver, GoldCore gives you the option with a range of 1 oz coins and 100 oz and 1,000 oz bars.
Silver is priced in troy ounces, which differ from regular ounces. Whenever you see a reference to the price of an ounce of silver, it is the troy ounce price. This is the wholesale price against which all retail silver products are priced. It makes it easy to compare the prices of the different silver products on offer.
At the top of this page, you'll see the current pricing for an ounce of silver in the United Kingdom. This is the price per troy ounce in pounds Sterling, which has been converted from the US Dollar price.
The silver spot price is the price of an ounce of pure silver available for immediate delivery or delivery 'on the spot'. It is typically determined by the best bid and offer for silver as offered by large bullion banks trading in real time throughout the world and quoted by data providers such as Thomson Reuters and Bloomberg.
It is the front month futures contract traded on the futures exchanges, with the most volume that tends to determine the spot price of silver today. Generally the nearest contract has the least volume as it is closest to expiring and so positions may have already been rolled. So we look to the contract with the most volume as this is where participants are trading for either hedging or speculation purposes. This month is referred to as the spot month.
The silver futures price is the price at which a futures contract for silver trades. To make it easier for those involved to guarantee the price at which they can buy or sell their silver in the future they can buy or sell a futures contract through an exchange. Standard silver futures contracts on COMEX are for 5,000 troy ounces of silver agreed for settlement on specific days of the year.
The silver futures price represents the price you will pay for an ounce of silver delivered at that future date. A futures price is usually more than the spot price because it must account for the risk and uncertainty in future movements as well as the interest or yield foregone.
There is never an ideal price to buy silver. The silver price represents underlying influences in the silver market which includes investor sentiment and confidence in the economy as well as supply and demand dynamics.
Silver is both a monetary and industrial metal which significantly affects its performance and outlook. It acts as a store of value and a hedge against uncertainty, but it is also used in industry and technology and so can be sensitive to economic changes.
When considering the silver price, investors should focus on the silver market such as the metal's rarity and limited production, but also the outlook for the global economy given how tightly connected it is to both industrial and technological demand.
Also read: Is buying silver a good investment?
GoldCore has secure vaults in Zurich, Singapore, Dublin & London where you can securely store silver bars and coins in segregated vaults.
There are easy steps to trade with GoldCore:
If you wish to make silver a part of your portfolio and need any further help, please contact GoldCore by chat, email or phone and our experienced team will be glad to assist.
Also read: Where to buy silver?
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