🥈 Silver Market Dashboard

Updated 2026-09-28 14:00 UTC
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📈 Chart & Analysis
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⚡ Live Spot
$61.9150/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.
$61.7756 / $61.8161
Bid / Ask ℹ
Swissquote · spread $0.0405
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.
$4159.20/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.
67.18
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
¥416.32/oz
XAG/CNY ℹ
≈ ¥13.3851/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.
¥13.3851/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.
¥9,782/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.
€54.4498/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
$62.0700/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.
422.5M oz
COMEX Open Interest ℹ
84,508 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
0.0M oz
SLV Silver Held ℹ
iShares · $34.7B 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.
$55.79 / $58.72
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.
15.7M 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 $55.79 -0.02% RSI 24 SMA20 $57.70 SMA50 $58.21 MACD ▼ Bear 52w $55.79–$60.74 Au/Ag 67.2
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.

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