Silver Market

⚡ Live Spot

$68.8230/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.

$68.8100 / $68.9300

Bid / Ask ℹ

Swissquote · spread $0.1200

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.

$4492.60/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.

65.28

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

¥468.19/oz

XAG/CNY ℹ

≈ ¥15.0528/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.

¥15.0528/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.

¥10,829/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.

€58.6669/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

$69.2400/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.

366.6M oz

COMEX Open Interest ℹ

73,318 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.

$61.52 / $65.54

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.

108.8M 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 $61.51 -0.03% RSI 27 SMA20 $63.34 SMA50 $66.84 MACD ▲ Bull 52w $61.51–$73.59 Au/Ag 65.3

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 Rises After Worst Week in Four Decades as War Risks Mount

Gold gained modestly after the biggest weekly drop in more than 40 years, supported by dip-buying as traders weighted the escalating war in the Middle East.…

Mar 22 22:24

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 22 17:02

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

Ahead of the HerdGold & Silver Declines are Reminiscent of the 2008 Financial Crisis

<a href="https://aheadoftheherd.com/gold-silver-declines-are-reminiscent-of-the-2008-financial-crisis/"><img align="center" alt="Gold & Silver Declines are Reminiscent of the 2008 Financial Crisis" height="347" src="…

Mar 22 16:59

Ahead of the HerdThe Skew

<a href="https://aheadoftheherd.com/the-skew/"><img align="center" alt="The Skew" height="347" src="https://aheadoftheherd.com/wp-content/uploads/2026/03/AEx-gold-silver-market-560x347.jpg" style="display: block; margin:…

Mar 22 16:50

Ahead of the HerdGold’s short-term setback hides a powerful long-term setup

<a href="https://aheadoftheherd.com/golds-short-term-setback-hides-a-powerful-long-term-setup/"><img align="center" alt="Gold’s short-term setback hides a powerful long-term setup" height="347" src="https://aheadoftheher…

Mar 22 16:45

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

Gold EagleDespite Recent Performance, Gold Still Expected To Climb

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

Mar 22 04:00

Gold EagleGold’s Double-Shot of Technical Adversity

<div class="views-field-byline">By <a href="https://www.gold-eagle.com/authors/mark-mead-baillie">Mark Mead Baillie</a> - March 22, 2026</div><div class="field field-name-body field-type-text-with-summary field-label-hid…

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

Silver SeekGold Joins Silver on the Launchpad

<span>Gold Joins Silver on the Launchpad</span> <div class="text-long">The standout on the chart still remains -- and that's that silver has been bumped out of its No. 1 spot on the above Days-to-Cover char…

Mar 21 11:22

Gold EagleGold Price Exclusive Update - March 21, 2026

<div class="views-field-byline">By <a href="https://www.gold-eagle.com/authors/jack-chan">Jack Chan</a> - March 21, 2026</div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div class=…

Mar 21 04:00

Gold EagleHow Long Will This Rally in Gold and Silver Take?

<div class="views-field-byline">By <a href="https://www.gold-eagle.com/authors/p-radomski">P. Radomski</a> - March 21, 2026</div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div cla…

Mar 21 04:00

Silver SeekCOT Silver Report - March 20, 2026

<span>COT Silver Report - March 20, 2026</span> <div class="text-long">Positions as of 17 March, 2026</div> <span><a href="https://silverseek.com/author/silver-cot-report" title="View user profile.">S…

Mar 20 19:23

Resource WorldPirate Gold drilling Crippleback Lake target at Treasure Island Project, Newfoundland

Pirate Gold Corp. [TSXV: YARR; OTCQB: SICNF] reported the start of drilling at the Crippleback Lake...…

Mar 20 16:13

Resource WorldNew Gold completes share arrangement with Coeur Mining

New Gold Inc. [TSX, NYSE American: NGD] reported the successful completion of the previously announced...…

Mar 20 14:17

Resource WorldGentile ups stake in Maple Gold Mines to 8.4%

Maple Gold Mines Ltd. [MGM-TSXV, MGMLF-OTCQB, M3G-FSE] said it has received $2.3 million from the...…

Mar 20 13:34

Silver SeekLawmakers Introduce SILVER Act to De-Risk U.S. Precious Metals Market Infrastructure

<span>Lawmakers Introduce SILVER Act to De-Risk U.S. Precious Metals Market Infrastructure</span> <div class="text-long">CEO Gleason: "Greater access to qualified storage facilities across the country will…

Mar 20 13:23

Silver SeekLawmakers Introduce SILVER Act to De-Risk U.S. Precious Metals Market Infrastructure

Mar 20 13:23

Silver SeekBP Silver Announces U.S. Listing on the OTCQB Under the Symbol "BPSCF" and Commencement of Field Work at Cosuño

<span>BP Silver Announces U.S. Listing on the OTCQB Under the Symbol "BPSCF" and Commencement of Field Work at Cosuño</span> <div class="text-long">CEO Shearcroft: "Together with the upcoming geophysical pr…

Mar 20 12:27

Silver SeekBP Silver Announces U.S. Listing on the OTCQB Under the Symbol "BPSCF" and Commencement of Field Work at Cosuño

Mar 20 12:27

Silver SeekChina Pulls Silver From Global Markets to Meet Surging Demand (Bloomberg)

<span>China Pulls Silver From Global Markets to Meet Surging Demand (Bloomberg)</span> <span><a href="https://silverseek.com/author/silverseek" title="View user profile.">SilverSeek</a></span> <span><time datetime="2026-…

Mar 20 11:51

Resource WorldSouthern Silver drills 6.3 metres of 874 g/t AgEq at Cerro Las Minitas Project, Durango, México

Southern Silver Exploration Corp. [TSXV: SSV] reports additional assays from drilling which further extend mineralization on...…

Mar 20 08:16

Gold EagleGold Stock Correction: Searching For a Low

<div class="views-field-byline">By <a href="https://www.gold-eagle.com/authors/gary-tanashian">Gary Tanashian</a> - March 20, 2026</div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><…

Mar 20 04:00

Gold EagleGold Price Forecast: Collapsing Sentiment Supports an Impending Low

<div class="views-field-byline">By <a href="https://www.gold-eagle.com/authors/ag-thorson">AG Thorson</a> - March 20, 2026</div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div clas…

Mar 20 04:00

Gold EagleGold, the Federal Reserve, and a Catch-22

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

Mar 20 04:00

Gold EagleGold, War, and the Collapse of Safe Havens

<div class="views-field-byline">By <a href="https://www.gold-eagle.com/authors/money-metals-exchange">Money Metals Exchange</a> - March 20, 2026</div><div class="field field-name-body field-type-text-with-summary field-l…

Mar 20 04:00

Gold EagleMiners to Get Hit By Higher Oil Prices

<div class="views-field-byline">By <a href="https://www.gold-eagle.com/authors/p-radomski">P. Radomski</a> - March 20, 2026</div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div cla…

Mar 20 04:00