Silver Market

⚡ Live Spot

$73.1510/oz

XAG/USD (Spot) ℹ

gold-api.com · real-time

The benchmark international silver spot price in USD per troy oz. Drives pricing on all exchanges globally. A rising spot signals bullish demand or USD weakness.

$72.9470 / $73.0100

Bid / Ask ℹ

Swissquote · spread $0.0630

The tightest price a dealer will buy (bid) and sell (ask) silver. The spread indicates market liquidity — a tight spread means high liquidity and low transaction cost. Wide spreads signal thin markets or uncertainty.

$4678.00/oz

XAU/USD (Gold) ℹ

gold-api.com · real-time

Gold spot price. Key context for silver — the two metals are closely correlated. Gold often leads silver moves. Watch for divergence as a signal.

63.95

Gold / Silver Ratio ℹ

>80 = silver historically cheap

How many oz of silver to buy 1 oz of gold. Historically averages ~60. Above 80: silver is historically undervalued vs gold. Below 50: silver is expensive vs gold. A falling ratio is typical in late bull markets.

🀄 Shanghai / Asia

¥497.72/oz

XAG/CNY ℹ

≈ ¥16.0022/g (SGE unit)

Silver price in Chinese Yuan per troy oz. China is the world's largest silver consumer. CNY strength or weakness relative to USD affects Chinese buying power and demand.

¥16.0022/g

SGE AG(T+D) proxy ℹ

Spot x CNY rate · SGE direct blocked

Proxy for the Shanghai Gold Exchange AG(T+D) deferred spot contract — the world's most liquid physical silver contract. SGE premiums above international spot signal strong Chinese physical demand.

¥11,526/oz

XAG/JPY ℹ

Tokyo Commodity Exchange proxy

Silver in Japanese Yen. Japan's TOCOM is a key Asian market. A rising XAG/JPY reflects silver strength and/or Yen weakness. BoJ policy moves create significant XAG/JPY volatility.

€62.6062/oz

XAG/EUR ℹ

Silver in Euros. Relevant for European industrial buyers. EUR/USD moves can diverge from USD spot — European buyers may see different effective prices. ECB policy is a key driver.

🏛️ COMEX Futures

$72.7350/oz

SI=F Front Month ℹ

yfinance approx 15min delay

COMEX silver futures front-month (5,000 oz per contract). Primary global price-discovery mechanism. Backwardation (futures below spot) is a bullish signal of tight physical supply.

364.1M oz

COMEX Open Interest ℹ

72,829 contracts · 5,000 oz each

Total open COMEX silver futures contracts. Rising OI + rising price = new longs = bull signal. Rising OI + falling price = new shorts = bearish. High OI vs vault stocks can signal squeeze risk.

🏦 ETF Holdings

317.9M oz

SLV Silver Held ℹ

iShares · $46.2B AUM

Total silver held by iShares SLV — world's largest silver ETF. Rising holdings = institutional demand growing. Falling = investors exiting. Strong leading indicator of Western sentiment.

$65.79 / $64.28

SLV Price / NAV ℹ

Premium/discount to NAV

SLV price vs Net Asset Value per share. A premium signals buying pressure exceeding physical inflows — very strong demand. A discount signals selling pressure. Normally very tight.

100.2M shares

SLV Avg Daily Volume ℹ

3-month average

Average daily SLV volume. Spikes in volume confirm price moves. A breakout on high volume is more reliable than a low-volume move.

Spot: gold-api.com + Swissquote (real-time). Currencies: fawazahmed0 (daily). ETF/futures: Yahoo Finance (approx 15min). SGE/SHFE APIs geo-blocked; CNY rate used as proxy. Refreshed hourly.

🤖 Silver broke to new 52-week highs at $79.41, but RSI at 26.9 and bearish MACD signal fragile momentum. Eighth straight supply deficit and all-time low inventories support the long-term case; near-term, geopolitical spikes can reverse sharply.

SLV $65.80 +0.27% RSI 32 SMA20 $66.45 SMA50 $66.29 MACD ▼ Bear 52w $61.54–$68.78 Au/Ag 63.9

Hover chart for OHLCV

⛏️ Annual Supply — Silver Institute 2023

820.8M oz

Mine Production ℹ

2023

Total silver mined globally in 2023. Mexico, Peru and China are top producers. Mine supply is inelastic — it takes years to open new mines. A shortage cannot be quickly fixed, making price spikes more extreme.

183.6M oz

Recycling ℹ

Silver recovered from industrial scrap, photography, and jewellery. Recycling increases when prices rise. Acts as a partial buffer but cannot replace mine supply shortfalls.

1,004.3M oz

Total Supply ℹ

Mine production + recycling + net hedging. Supply has grown slowly while demand has accelerated — the resulting structural deficit is a core long-term bullish argument for silver.

MX · PE · CN

Top Producers ℹ

Mexico · Peru · China

Mexico, Peru and China account for ~50% of global mine supply. Political instability or labour disputes in these countries can rapidly tighten supply and spike prices.

🏭 Annual Demand — Silver Institute 2023

654.4M oz

Industrial ℹ

EVs · solar · electronics

The largest demand category at 56% of total. Silver is irreplaceable in solar panels, EVs, 5G electronics, and medical devices. This demand is structural and growing — it does not retreat in bear markets.

243.0M oz

Physical Investment ℹ

Coins & bars

Retail and institutional demand for coins and bars. Surges during inflation fears, dollar weakness, or geopolitical crisis. US Mint and Royal Mint sell-outs are strong sentiment indicators.

182.0M oz

Jewellery ℹ

Mainly India and China. India is the world's largest silver jewellery market — INR/USD and Indian import duties directly impact this figure. Less price-sensitive than investment demand.

52.1M oz

Silverware ℹ

Traditional silverware demand. Relatively stable; primarily driven by India and China gifting and ceremonial use.

📊 Supply / Demand Balance — Silver Institute 2023

1,167.8M oz

Total Demand ℹ

2023

All demand categories combined. Demand has grown rapidly driven by industrial use, while supply has lagged — creating a structural deficit for three consecutive years.

−163.5M oz

Physical Deficit ℹ

3rd consecutive year

Total demand exceeds total supply by 163.5 Moz — above-ground stocks are being drawn down. Sustained deficits are structurally bullish: prices must eventually rise to ration demand or incentivise new supply.

~2,600M oz

Above-ground Stocks ℹ

Est. identifiable

Total estimated identifiable above-ground silver stocks (ETFs, COMEX vaults, institutional). At current deficit rates, stocks could tighten meaningfully within years — a key long-term price catalyst.

Structural Deficit

Implied Balance ℹ

Multi-year trend

The market has been in structural deficit since 2021. Unlike gold, silver lacks large central bank reserves to cushion shortfalls — making it more sensitive to supply shocks.

Annual data: Silver Institute World Silver Survey 2024 (2023 figures). Updated annually.

Silver SeekCOT Silver Report - April 3, 2026

<span>COT Silver Report - April 3, 2026</span> <div class="text-long">Positions as of 31 March, 2026</div> <span><a href="https://silverseek.com/author/silver-cot-report" title="View user profile.">Si…

Apr 03 19:25

Ahead of the HerdUnder the Spotlight – Marc Blythe Founder, President, CEO & Director Au Gold Corp

<a href="https://aheadoftheherd.com/under-the-spotlight-marc-blythe-founder-president-ceo-director-au-gold-corp/"><img align="center" alt="Under the Spotlight – Marc Blythe Founder, President, CEO & Director Au…

Apr 03 16:07

Ahead of the HerdOrestone initiates exploration on Francisca Gold Project with mapping and sampling program – Richard Mills

<a href="https://aheadoftheherd.com/orestone-initiates-exploration-on-francisca-gold-project-with-mapping-and-sampling-program-richard-mills/"><img align="center" alt="Orestone initiates exploration on Francisca Gold Pro…

Apr 03 16:07

Ahead of the HerdGold-Stock Green Shoots

<a href="https://aheadoftheherd.com/gold-stock-green-shoots/"><img align="center" alt="Gold-Stock Green Shoots" height="347" src="https://aheadoftheherd.com/wp-content/uploads/2026/04/AEx-gold-bars-chart-560x347.jpg" sty…

Apr 03 16:03

Ahead of the HerdStrong commodity prices suggest sell-off in mining stocks overdone

<a href="https://aheadoftheherd.com/strong-commodity-prices-suggest-sell-off-in-mining-stocks-overdone/"><img align="center" alt="Strong commodity prices suggest sell-off in mining stocks overdone" height="347" src="http…

Apr 03 15:55

Gold EagleGold-Stock Green Shoots

<div class="views-field-byline">By <a href="https://www.gold-eagle.com/authors/adam-hamilton">Adam Hamilton</a> - April 03, 2026</div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><di…

Apr 03 04:00

Gold EagleNo Clear Winner Yet - Dollar Holds the Line, Gold Feels the Pressure

<div class="views-field-byline">By <a href="https://www.gold-eagle.com/authors/anna-radomska">Anna Radomska</a> - April 03, 2026</div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><di…

Apr 03 04:00

Gold EagleUncle Sam’s Balance Sheet Looks Like Bankruptcy

<div class="views-field-byline">By <a href="https://www.gold-eagle.com/authors/money-metals-exchange">Money Metals Exchange</a> - April 03, 2026</div><div class="field field-name-body field-type-text-with-summary field-l…

Apr 03 04:00

Gold EagleCentral Bank Gold Buying Rebounded in February

<div class="views-field-byline">By <a href="https://www.gold-eagle.com/authors/mike-maharrey">Mike Maharrey</a> - April 03, 2026</div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><di…

Apr 03 04:00

Gold EagleGold: Gambling with America’s Future

<div class="views-field-byline">By <a href="https://www.gold-eagle.com/authors/john-ing">John Ing</a> - April 02, 2026</div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class="f…

Apr 02 04:00

Gold EagleGold’s Pullback May Be the Best Entry Point in Years

<div class="views-field-byline">By <a href="https://www.gold-eagle.com/authors/jonny-haycock">Jonny Haycock</a> - April 02, 2026</div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><di…

Apr 02 04:00

Gold EagleDollar Breaks Down. Copper Tests Opportunity - Reversal or Continuation?

<div class="views-field-byline">By <a href="https://www.gold-eagle.com/authors/anna-radomska">Anna Radomska</a> - April 02, 2026</div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><di…

Apr 02 04:00

Gold EagleCan the Market Economy Be Trusted?

<div class="views-field-byline">By <a href="https://www.gold-eagle.com/authors/frank-shostak">Frank Shostak</a> - April 02, 2026</div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><di…

Apr 02 04:00

Gold EagleJust How Much Gold Is There?

<div class="views-field-byline">By <a href="https://www.gold-eagle.com/authors/mike-maharrey">Mike Maharrey</a> - April 02, 2026</div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><di…

Apr 02 04:00

Gold EagleGoldman Doubles Down On $5,400 Gold Target

<div class="views-field-byline">By <a href="https://www.gold-eagle.com/authors/chris-marcus">Chris Marcus</a> - April 02, 2026</div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div…

Apr 02 04:00

Silver SeekSilver Traps Ahead? The $800 Roadmap Explained by a Top Chart Analyst

<span>Silver Traps Ahead? The $800 Roadmap Explained by a Top Chart Analyst</span> <div class="text-long">Why silver may remain range-bound in the near term despite a strongly bullish long-term outlook, key…

Apr 01 20:04

Silver SeekSilver Traps Ahead? The $800 Roadmap Explained by a Top Chart Analyst

Apr 01 20:04