Silver Market

⚡ Live Spot

$64.4190/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.

$64.2925 / $64.3575

Bid / Ask ℹ

Swissquote · spread $0.0650

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.

$4286.20/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.

66.54

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

¥431.70/oz

XAG/CNY ℹ

≈ ¥13.8795/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.

¥13.8795/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.

¥10,116/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.

€56.4555/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

$64.8010/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.

$58.14 / $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 $58.13 +0.02% RSI 69 SMA20 $57.86 SMA50 $58.36 MACD ▲ Bull 52w $57.06–$60.74 Au/Ag 66.5

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.

Bloomberg MarketsBarrick Mining Reaches Deal With Mali Unions, Averting Strikes

Barrick Mining Corp. has reached an agreement with unions representing workers at its Loulo-Gounkoto gold mining operation in western Mali, averting strikes planned to begin on Monday.…

Sep 27 11:34

Silver SeekThe Silver That Had Two Jobs

<span>The Silver That Had Two Jobs</span> <div class="text-long">For someone thinking about wealth over years, silver’s appeal comes with all of these complications attached. Its monetary history gives peop…

Sep 27 09:06

Gold EagleTreasury Tries to Tame Yields While China Buys Gold

<div class="views-field-byline">By <a href="https://www.gold-eagle.com/authors/mike-gleason">Mike Gleason</a> - September 27, 2026</div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><…

Sep 27 04:00

Gold EagleStill Lower Gold Ahead

<div class="views-field-byline">By <a href="https://www.gold-eagle.com/authors/mark-mead-baillie">Mark Mead Baillie</a> - September 27, 2026</div><div class="field field-name-body field-type-text-with-summary field-label…

Sep 27 04:00

Gold EagleGrowing Problems in the Bond Market

<div class="views-field-byline">By <a href="https://www.gold-eagle.com/authors/mark-j-lundeen">Mark J Lundeen</a> - September 27, 2026</div><div class="field field-name-body field-type-text-with-summary field-label-hidde…

Sep 27 04:00

Ahead of the HerdTorr Metals: Drilling advances within Bertha North Cu-Au porphyry system toward interpreted source intrusion – Richard Mills

<a href="https://aheadoftheherd.com/torr-metals-drilling-advances-within-bertha-north-cu-au-porphyry-system-toward-interpreted-source-intrusion-richard-mills/"><img align="center" alt="Torr Metals: Drilling advances with…

Sep 26 16:14

Ahead of the HerdWhite Gold Project’s PEA highlights 41% IRR with 1.5-year payback – Richard Mills

<a href="https://aheadoftheherd.com/white-gold-projects-pea-highlights-41-irr-with-1-5-year-payback-richard-mills/"><img align="center" alt="White Gold Project’s PEA highlights 41% IRR with 1.5-year payback – Richard Mi…

Sep 26 15:31

Gold EagleAwaiting the Pivot Back to Precious & Critical Minerals

<div class="views-field-byline">By <a href="https://www.gold-eagle.com/authors/gary-tanashian">Gary Tanashian</a> - September 26, 2026</div><div class="field field-name-body field-type-text-with-summary field-label-hidde…

Sep 26 04:00

Gold EagleGold Price Exclusive Update - September 26, 2026

<div class="views-field-byline">By <a href="https://www.gold-eagle.com/authors/jack-chan">Jack Chan</a> - September 26, 2026</div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div cl…

Sep 26 04:00

Silver SeekCOT Silver Report - September 25, 2026

<span>COT Silver Report - September 25, 2026</span> <div class="text-long">Positions as of 22 September, 2026</div> <span><a href="https://silverseek.com/author/silver-cot-report" title="View user pro…

Sep 25 19:26

Ahead of the HerdDow-to-Gold ratio and gold’s repricing – AOTH

<a href="https://aheadoftheherd.com/dow-to-gold-ratio-and-golds-repricing-aoth/"><img align="center" alt="Dow-to-Gold ratio and gold’s repricing – AOTH" height="347" src="https://aheadoftheherd.com/wp-content/uploads/202…

Sep 25 16:35

Ahead of the HerdStorm discovers VMS system at Gold Standard; stock reacts – Richard Mills

<a href="https://aheadoftheherd.com/storm-discovers-vms-system-at-gold-standard-stock-reacts-richard-mills/"><img align="center" alt="Storm discovers VMS system at Gold Standard; stock reacts – Richard Mills" height="3…

Sep 25 16:23

Resource WorldOrosur shares rally on oversubscribed Colombia financing news

Orosur Mining Inc. [OMI-TSX, AIM] said Friday a previously announced private placement offering that aims...…

Sep 25 14:48

Resource WorldWhite Gold delivers positive PEA for Yukon open pit project

White Gold Corp. [WGO-TSXV, WHGOF-OTCQX, 29W-FRA] said Friday it has filed an independent preliminary economic...…

Sep 25 14:07

Gold EagleGold Price Forecast: Gold Miners Look Bullish Despite Spiking Bond Yields

<div class="views-field-byline">By <a href="https://www.gold-eagle.com/authors/ag-thorson">AG Thorson</a> - September 25, 2026</div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div…

Sep 25 04:00

Gold EagleGold Stocks Overlooked

<div class="views-field-byline">By <a href="https://www.gold-eagle.com/authors/adam-hamilton">Adam Hamilton</a> - September 25, 2026</div><div class="field field-name-body field-type-text-with-summary field-label-hidden"…

Sep 25 04:00

Gold EagleWhat the Dow/Gold Ratio Shows That the CPI Hides

<div class="views-field-byline">By <a href="https://www.gold-eagle.com/authors/vasilii-sapozhnikov">Vasilii Sapozhnikov</a> - September 25, 2026</div><div class="field field-name-body field-type-text-with-summary field-l…

Sep 25 04:00

Resource WorldSego Resources Locates Multiple Deep IP Targets Identified Beneath Both the Cuba Copper Gold Zone and the South Gold Zone

Sego Resources Inc. (TSXV: SGZ) (“Sego” or “the Company”) is delighted to announce the completion of a...…

Sep 24 16:14

Resource WorldOceanaGold posts excellent high-grade drill results at Wharekirauponga Project, New Zealand

OceanaGold Corp. [TSX: OGC; NYSE: OGC] reported results from 16 new drill holes from the...…

Sep 24 16:11

SRSrocco ReportIMPORTANT MEMBER REPORT: Critical Dynamics Of Gold, Silver, Copper & Energy Price & Value

This is an Important Update for all SRS Members. As I mentioned, this is the presentation I provided for David Morgan's Mastermind members, which CONNECTS all the DOTS on why the Fundamentals always win out in the end.…

Sep 24 15:33

Resource WorldLion One Drills 4.6 m of 82.28 g/t Gold Near Underground Development at Tuvatu Gold Mine in Fiji

Lion One Metals Limited (TSXV: LIO) (OTCQX: LOMLF) (“Lion One” or the “Company”) is pleased...…

Sep 24 15:31

Resource WorldGold Strike Resources completes 2026 drill program at Florin Gold Project, Yukon

Gold Strike Resources Corp. [TSXV: GSR; OTC: GDSRF] reported that it has completed its 2026...…

Sep 24 15:05

Resource WorldCollective Mining drills new high-grade tungsten, gold zone in Colombia

Collective Mining Ltd. [CNL-TSX, CNL-NASDAQ] has announced assay results for four diamond drill holes at...…

Sep 24 15:00

Silver SeekCOMEX Silver Withdrawals Raise Questions as Physical Demand Builds

<span>COMEX Silver Withdrawals Raise Questions as Physical Demand Builds</span> <div class="text-long">Silver is on track for its sixth straight annual supply deficit, meaning demand is exceeding newly mine…

Sep 24 13:10

Silver SeekCOMEX Silver Withdrawals Raise Questions as Physical Demand Builds

Sep 24 13:10