Silver price chart today market watch12/23/2023 For the high and low values, we are showing the lowest bid and the highest ask of the day. Whenever bullion dealers in any of these cities are active, we indicate this on our website with the message “Spot Market is Open”. New York, London, Sydney, Hong Kong, Tokyo, and Zurich are where most of the trading activity takes place. The spot silver market is trading very close to 24 hours a day as there is almost always a location somewhere in the world that is actively taking orders for silver transactions. Transactions for bullion coins are almost always priced using the spot price as a basis. The spot silver price refers to the price of silver for immediate delivery. Silver is sometimes referred to as monetary metals as it has historical uses as currencies and is seen as a store of value however, silver has a significant industrial component, equivalent to almost half of its markets, because it is less reactive, good conductors and highly malleable. There are five main precious metals openly traded on various exchanges, Silver is the second largest market in this specific sector. This is a classification of specific metals that are considered rare and have a higher economic value compared to other metals. You can view current metal prices in all available currencies here and our archive of previous dates and currencies here.Silver Price Guide WHAT MAKES SILVER A PRECIOUS METAL? Our exchange rate database goes back to 2010 and is has been gathered from public sources through our sister site,. Please see our Privacy Policy and Disclaimer.Īll metal prices are available in USD going back to 2000, but prices may also be available in other currencies if exchange rates are available. Metal prices may be delayed up to one business dayĪnd may not represent actual retail rates for the metal or material in question. Our prices are daily "spot" and/or closing prices gathered from a variety of public sourcesĪnd offer a daily snapshot of a particular metal's price. Mining companies and funds that invest in mining firms. Investors also participate in metal price speculation through investment in Other ETF's track the price of an individual metal or a group Some of the more complex metal price ETF's are designed to track the inverse of a metal's price or even Some metal orĬommodity-based ETF's may be fully backed by the material in question, while others may not.ĮTF's are available for most all of the important industrial, base and precious metals. Through specialized instruments such as ETF's (Exchange Traded Funds). Retail investors the opportunity to participate in metal investing and price speculation Outside of specialized commodity markets, many investment firms and equity markets offer These instruments also give speculators the opportunity to profit from unpredicted price Participants to reduce potential volatility in the price of their metal supply. Require direct and private agreements with the metal producer.įor popular metals, many markets offer futures and options contracts which allow market Less common metals or those with specialized uses may not be publicly traded at all, but Using prices set by those producers or related trade associations. Other metals are bought and sold directly through the offices of metal producers New York Mercantile Commodity Exchange (COMEX) and London Metal Exchange (LME). Many important metals are traded on public exchanges. Daily Metal Prices How are Metal Prices Determined?
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