🥈 Silver Market Dashboard

Updated 2026-09-28 02:00 UTC
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📈 Chart & Analysis
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⚡ Live Spot
$62.6940/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.
$62.5280 / $62.5830
Bid / Ask ℹ
Swissquote · spread $0.0550
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.
$4216.60/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.
67.26
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
¥431.76/oz
XAG/CNY ℹ
≈ ¥13.8815/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.
¥13.8815/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.
¥10,113/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.
€56.4397/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
$62.9350/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 67.3
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.

SRSrocco ReportSILVER MARKET UPDATE SEP 27th: Hearing About The Dollar Collapse Is Coming Soon & Why Are Dealers Paying So Much Less For Silver Than Gold??

There's something interesting taking place in the U.S. Retail Bullion market, as Dealers are paying much less for silver than gold.  Why?  Also, I am hearing a lot on social media and YouTube that the U.S. Dollar and Tre…

Sep 28 00:05
Bloomberg MarketsGold Declines as Hormuz Impasse Keeps Rate-Hike Bets Elevated

Gold dropped — following a weekly decline — as an impasse over the Strait of Hormuz kept energy costs elevated and maintained pressure on the Federal Reserve to raise interest rates further to combat sticky inflation.…

Sep 27 23:59
Ahead of the HerdEngineering Cost Study Validates Commercial-Scale U.S. HPMSM Capital Cost and Establishes EMM Capital Cost for Electric Metals’ North Star Manganese Project

<a href="https://aheadoftheherd.com/engineering-cost-study-validates-commercial-scale-u-s-hpmsm-capital-cost-and-establishes-emm-capital-cost-for-electric-metals-north-star-manganese-project/"><img align="center" alt="En…

Sep 27 21:39
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 EagleGold Forecast: Gold Cycles Setting Up for the Next Leg Higher

<div class="views-field-byline">By <a href="https://www.gold-eagle.com/authors/jim-curry">Jim Curry</a> - September 27, 2026</div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div cl…

Sep 27 04:00
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
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