Silver Market

⚡ Live Spot

$69.4230/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.

$69.3580 / $69.4180

Bid / Ask ℹ

Swissquote · spread $0.0600

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.

$4387.30/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.

63.20

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

¥465.89/oz

XAG/CNY ℹ

≈ ¥14.9786/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.

¥14.9786/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.

¥10,719/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.

€58.3096/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

$69.7350/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.

370.0M oz

COMEX Open Interest ℹ

73,997 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.

$62.83 / $60.88

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.

109.4M 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 $62.83 +0.00% RSI 46 SMA20 $62.80 SMA50 $63.08 MACD ▲ Bull 52w $61.45–$70.12 Au/Ag 63.2

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.

Ahead of the Herd3 metals indispensable for warfighting – Richard Mills

<a href="https://aheadoftheherd.com/3-metals-indispensable-for-warfighting-richard-mills/"><img align="center" alt="3 metals indispensable for warfighting – Richard Mills" height="347" src="https://aheadoftheherd.c…

Mar 24 17:05

Ahead of the HerdWhy gold and silver prices are falling despite Iran conflict escalating

<a href="https://aheadoftheherd.com/why-gold-and-silver-prices-are-falling-despite-iran-conflict-escalating/"><img align="center" alt="Why gold and silver prices are falling despite Iran conflict escalating" height="347"…

Mar 24 16:45

Resource WorldHigh-Grade Zinc Meets Silver and Copper in Ireland’s Next District Play

By Peter Kennedy The old adage of ‘Grade is King’ rings true at the present...…

Mar 24 16:24

Resource WorldCenterra taking 9.9% stake in Nevada King Gold

Nevada King Gold Corp. [NKG-TSXV, NKGFF-OTCQB] has announced a $16 million strategic financing, including a...…

Mar 24 15:28

Resource WorldCoeur Mining eyes 80% increase in annual gold production

Coeur Mining Inc. [CDE-NYSE] has raised its 2026 production outlook after closing its acquisition of...…

Mar 24 13:30

Silver SeekChina Is Gobbling Up Physical Silver

<span>China Is Gobbling Up Physical Silver</span> <div class="text-long">Shifting silver between New York, London, and Asian exchanges can temporarily ease squeezes, but it doesn’t fix the underlying proble…

Mar 24 13:00

Silver SeekChina Is Gobbling Up Physical Silver

Mar 24 13:00

Resource WorldAmerican Rare Earths launches gold, silver, copper and manganese target review at La Paz Project, Arizona

American Rare Earths Ltd. [ASX: ARR; OTCQX: ARRNF; ADR: AMRRY] reported that it has engaged...…

Mar 24 12:44

Resource WorldKobo Resources arranges $5.52 million financing to drill Kossou gold project, Cote d’Ivoire

Kobo Resources Inc. [TSXV: KRI] intends to complete a non-brokered private placement of up to...…

Mar 24 12:00

Resource WorldGuanajuato appoints Paxton as director; new mineral resource at Valenciana mine complex, Guanajuato, Mexico

Guanajuato Silver Company Ltd. [TSXV: GSVR; OTCQX: GSVRF] has appointed David Paxton to its board...…

Mar 24 09:44

Gold EagleThe Rallies in Gold and Silver Are Not Complete - Here's WHY

<div class="views-field-byline">By <a href="https://www.gold-eagle.com/authors/p-radomski">P. Radomski</a> - March 24, 2026</div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div cla…

Mar 24 04:00

Gold EagleGold Stocks: Are Investors Compelled To Buy?

<div class="views-field-byline">By <a href="https://www.gold-eagle.com/authors/stewart-thomson">Stewart Thomson</a> - March 24, 2026</div><div class="field field-name-body field-type-text-with-summary field-label-hidden"…

Mar 24 04:00

Gold EagleGold’s Biggest Fire Sale in 43 Years: Perception vs. Opportunity

<div class="views-field-byline">By <a href="https://www.gold-eagle.com/authors/matthew-piepenberg">Matthew Piepenberg</a> - March 24, 2026</div><div class="field field-name-body field-type-text-with-summary field-label-h…

Mar 24 04:00

Gold EagleGold SWOT: Silver Demand Remains Strong, With China Importing 790+ Tons in Early 2026

<div class="views-field-byline">By <a href="https://www.gold-eagle.com/authors/frank-holmes">Frank Holmes</a> - March 24, 2026</div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div…

Mar 24 04:00

Gold EagleThe Money Multiplier – Myth or Reality?

<div class="views-field-byline">By <a href="https://www.gold-eagle.com/authors/frank-shostak">Frank Shostak</a> - March 24, 2026</div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><di…

Mar 24 04:00

Gold EagleThis is NOT the Silver & Gold Crash Everyone Thinks It Is

<div class="views-field-byline">By <a href="https://www.gold-eagle.com/authors/jordan-roy-byrne">Jordan Roy-Byrne</a> - March 24, 2026</div><div class="field field-name-body field-type-text-with-summary field-label-hidde…

Mar 24 04:00

Ahead of the HerdThe silver shortage is real – Richard Mills

<a href="https://aheadoftheherd.com/the-silver-shortage-is-real-richard-mills/"><img align="center" alt="The silver shortage is real – Richard Mills" height="347" src="https://aheadoftheherd.com/wp-content/uploads…

Mar 23 16:55

Resource WorldMcEwen releases Manitoba gold mine resource estimate

McEwen Mining Inc. [MUX-TSX, NYSE] has reported a mineral resource estimate for the Tartan Lake...…

Mar 23 16:45

Resource WorldForan Mining hits key commissioning milestone in Saskatchewan

Foran Mining Corp. [FOM-TSX, FMCXF-OTCQX] has announced the successful energization of the dedicated power transmission...…

Mar 23 16:08

Silver SeekTechnical Scoop: Impact Spread, 1970s Rhyme, Oversold Metals

<span>Technical Scoop: Impact Spread, 1970s Rhyme, Oversold Metals</span> <div class="text-long">What to watch for going forward? Gold, silver, and the gold stocks have been beaten up and bloodied. But over…

Mar 23 13:00

Silver SeekTechnical Scoop: Impact Spread, 1970s Rhyme, Oversold Metals

Mar 23 13:00

Silver SeekChina & Silver

<span>China & Silver</span> <div class="text-long">Also, as you know, silver is well into its sixth year of a structural deficit -- and this data point from China just released, is yet another straw in…

Mar 23 08:35

Gold EagleConcerned With The Overnight Plunge in Gold and Silver?

<div class="views-field-byline">By <a href="https://www.gold-eagle.com/authors/p-radomski">P. Radomski</a> - March 23, 2026</div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div cla…

Mar 23 04:00

Gold EagleNew Closing Lows For Gold And Silver

<div class="views-field-byline">By <a href="https://www.gold-eagle.com/authors/kelsey-williams">Kelsey Williams</a> - March 23, 2026</div><div class="field field-name-body field-type-text-with-summary field-label-hidden"…

Mar 23 04:00

Gold EaglePrecious Metals Selloff Continues, Even As Oil Soars...

<div class="views-field-byline">By <a href="https://www.gold-eagle.com/authors/chris-marcus">Chris Marcus</a> - March 23, 2026</div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div…

Mar 23 04:00

Silver SeekThe Silver Shortage is Real

<span>The Silver Shortage is Real</span> <div class="text-long">The silver deficit is real and prices, despite some short-term volatility, will soon reflect market realities and rise accordingly. The silver…

Mar 22 17:02

SRSrocco ReportTHE BIG SILVER CHINA STORY: China Pulls Silver From Global Markets To Meet Surging Demand

The BIG STORY this week is that China is pulling a record amount of silver from the global markets to meet surging demand. Is this true, and did China cut silver exports drastically this year as many warned about...…

Mar 22 16:38

Gold EagleGold Forecast: Reversal Breaks Confirm Key Trend Change

<div class="views-field-byline">By <a href="https://www.gold-eagle.com/authors/jim-curry">Jim Curry</a> - March 22, 2026</div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class=…

Mar 22 04:00

Crescat CapitalSell the S&P 500 and Buy Gold Mining Stocks

We think the recent correction in gold mining stocks presents a timely buying opportunity. For the reasons we outline in this research letter, we believe now is a great time for investors to consider selling their S&…

Mar 22 03:48