Silver Market

⚡ Live Spot

$66.5590/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.

$66.4995 / $66.5625

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.

$4367.20/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.

65.61

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

¥443.98/oz

XAG/CNY ℹ

≈ ¥14.2744/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.

¥14.2744/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.

¥10,393/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.

€57.6787/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

$66.8000/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.

425.7M oz

COMEX Open Interest ℹ

85,140 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.

$59.93 / $60.55

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.

16.6M 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 $59.91 -0.12% RSI 72 SMA20 $59.70 SMA50 $58.68 MACD ▼ Bear 52w $56.59–$60.37 Au/Ag 65.6

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 MarketsGold Steadies as Traders Weigh Inflation and Fed Hike Outlook

Gold was steady as traders weighed the risk of persistent inflation and the path for interest rates after the Federal Reserve’s first hike since 2023.…

Sep 20 23:45

Gold EagleGold Isn’t Following the Fed’s Script and a New Uptrend Looms

<div class="views-field-byline">By <a href="https://www.gold-eagle.com/authors/mike-gleason">Mike Gleason</a> - September 20, 2026</div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><…

Sep 20 04:00

Gold EagleGold Records (Barely) an Up Week in Maintaining the Long Streak

<div class="views-field-byline">By <a href="https://www.gold-eagle.com/authors/mark-mead-baillie">Mark Mead Baillie</a> - September 20, 2026</div><div class="field field-name-body field-type-text-with-summary field-label…

Sep 20 04:00

Gold EagleBond Yields Continue Trending Upwards

<div class="views-field-byline">By <a href="https://www.gold-eagle.com/authors/mark-j-lundeen">Mark J Lundeen</a> - September 20, 2026</div><div class="field field-name-body field-type-text-with-summary field-label-hidde…

Sep 20 04:00

Ahead of the HerdStorm starts drilling massive VMS target at Gold Standard, Ontario – Richard Mills

<a href="https://aheadoftheherd.com/storm-starts-drilling-massive-vms-target-at-gold-standard-ontario-richard-mills/"><img align="center" alt="Storm starts drilling massive VMS target at Gold Standard, Ontario – Richard…

Sep 19 16:26

Gold EagleGold Price Exclusive Update - September 19, 2026

<div class="views-field-byline">By <a href="https://www.gold-eagle.com/authors/jack-chan">Jack Chan</a> - September 19, 2026</div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div cl…

Sep 19 04:00

Gold EaglePrecious Metals Sector Major UPLEG Believed To Be Starting - We Look at GDX in Detail...

<div class="views-field-byline">By <a href="https://www.gold-eagle.com/authors/clive-maund">Clive Maund</a> - September 19, 2026</div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><di…

Sep 19 04:00

SRSrocco ReportTROUBLING DECLINE IN MEXICO & PERU SILVER MINE SUPPLY THIS SUMMER: And Is The Silver Deficit Widening In 2026?

Wow... I was really surprised by how much Mexico & Peru's silver mine supply declined midyear. Peru's large decline was mostly due to "Energy Constraints." Where have we heard that term before?? Also, what is goi…

Sep 18 23:24

Silver SeekCOT Silver Report - September 18, 2026

<span>COT Silver Report - September 18, 2026</span> <div class="text-long">Positions as of 15 September, 2026</div> <span><a href="https://silverseek.com/author/silver-cot-report" title="View user pro…

Sep 18 19:27

Ahead of the HerdCopper and gold senior merger and acquisition activity – AOTH

<a href="https://aheadoftheherd.com/copper-and-gold-senior-merger-and-acquisition-activity-aoth/"><img align="center" alt="Copper and gold senior merger and acquisition activity – AOTH" height="347" src="https://aheadof…

Sep 18 17:39

Ahead of the HerdGold interest rate trade dead, long live the debasement trade – AOTH

<a href="https://aheadoftheherd.com/gold-interest-rate-trade-dead-long-live-the-debasement-trade-aoth/"><img align="center" alt="Gold interest rate trade dead, long live the debasement trade – AOTH" height="347" src="ht…

Sep 18 17:21

Ahead of the HerdCanada courts C$1 trillion with mining at centre of pitch

<a href="https://aheadoftheherd.com/canada-courts-c1-trillion-with-mining-at-centre-of-pitch/"><img align="center" alt="Canada courts C$1 trillion with mining at centre of pitch" height="347" src="https://aheadoftheherd.…

Sep 18 17:15

Silver SeekRemarkable Silver Charts Point to New Uptrend

<span>Remarkable Silver Charts Point to New Uptrend</span> <div class="text-long">Noted by analyst Clive Maund, several developments showing up on the charts suggest that silver may be working its way…

Sep 18 13:05

Silver SeekRemarkable Silver Charts Point to New Uptrend

Sep 18 13:05

Gold EagleGold Price Forecast: The Fed Correction Is Over—Is $5,000 Next?

<div class="views-field-byline">By <a href="https://www.gold-eagle.com/authors/ag-thorson">AG Thorson</a> - September 18, 2026</div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div…

Sep 18 04:00

Gold EagleGold Fed Hysteria Wanes

<div class="views-field-byline">By <a href="https://www.gold-eagle.com/authors/adam-hamilton">Adam Hamilton</a> - September 18, 2026</div><div class="field field-name-body field-type-text-with-summary field-label-hidden"…

Sep 18 04:00

Gold EagleGold and USD… Rallied Together

<div class="views-field-byline">By <a href="https://www.gold-eagle.com/authors/p-radomski">P. Radomski</a> - September 18, 2026</div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div…

Sep 18 04:00

Gold EagleBreakouts, Gaps & Battle Lines - Here’s What Matters Now

<div class="views-field-byline">By <a href="https://www.gold-eagle.com/authors/anna-radomska">Anna Radomska</a> - September 18, 2026</div><div class="field field-name-body field-type-text-with-summary field-label-hidden"…

Sep 18 04:00

Gold EaglePrice Inflation Has Been above the Two-Percent Target for 65 Months in a Row

<div class="views-field-byline">By <a href="https://www.gold-eagle.com/authors/ryan-w-mcmaken">Ryan W. McMaken</a> - September 18, 2026</div><div class="field field-name-body field-type-text-with-summary field-label-hidd…

Sep 18 04:00