Silver Market

⚡ Live Spot

$64.2650/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.

$64.1435 / $64.1871

Bid / Ask ℹ

Swissquote · spread $0.0436

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.

$4279.30/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.

66.59

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

¥426.90/oz

XAG/CNY ℹ

≈ ¥13.7252/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.

¥13.7252/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.

¥10,071/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.

€55.9328/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

$64.5400/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

317.9M 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.

$57.94 / $58.88

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 $57.94 -0.01% RSI 70 SMA20 $57.61 SMA50 $58.61 MACD ▲ Bull 52w $57.06–$60.74 Au/Ag 66.6

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.

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

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

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

Resource WorldQuartz Mountain to drill Maestro gold-silver project, British Columbia

Quartz Mountain Resources Ltd. [TSXV: QZM; OTCQX: QZMRF] reported that Phase 5 core drilling at...…

Sep 24 14:19

Resource WorldRackla raises $3.65 million for NWT tungsten drilling

Rackla Metals Inc. [RAK-TSXV] said Thursday it has closed a previously announced non-brokered private placement...…

Sep 24 13:59

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

Gold EagleMerk: Don't Give Up Your Gold!

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

Sep 24 04:00

Gold EagleChinese Gold Imports Hit Highest Level in Nearly a Decade

Sep 24 04:00

Gold EagleGold at the Neckline as Yields Hit 2007 Highs

<div class="views-field-byline">By <a href="https://www.gold-eagle.com/authors/p-radomski">P. Radomski</a> - September 24, 2026</div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div…

Sep 24 04:00

Gold EagleGOLD MATTERS: Separating the Simple (True) from the Complex (Noise)

<div class="views-field-byline">By <a href="https://www.gold-eagle.com/authors/jonny-haycock">Jonny Haycock</a> - September 24, 2026</div><div class="field field-name-body field-type-text-with-summary field-label-hidden"…

Sep 24 04:00

Gold EagleChina GOLD Imports Surge Amidst US Debt Market Meltdown

<div class="views-field-byline">By <a href="https://www.gold-eagle.com/authors/chris-marcus">Chris Marcus</a> - September 24, 2026</div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><…

Sep 24 04:00

Resource WorldNV Gold Identifies a Significant New Gold Zone at Awakening Area of the Slumber Project

Drill Results including 41 m of .844 g/tonne Gold in Hole SL-42 NV Gold Corporation (TSXV:...…

Sep 23 17:45

Resource WorldNexGold Mining drills 14.07 g/t gold over 7.0 metres at Goldlund Deposit, Goliath Gold Complex, Ontario

NexGold Mining Corp. [TSXV: NEXG; OTCQX: NXGCF] provided additional results from its diamond drilling program...…

Sep 23 16:16

Ahead of the HerdThe rise of the Super Pits – AOTH

<a href="https://aheadoftheherd.com/the-rise-of-the-super-pits-aoth/"><img align="center" alt="The rise of the Super Pits – AOTH" height="347" src="https://aheadoftheherd.com/wp-content/uploads/2026/09/AEx-mining-equipm…

Sep 23 16:02

Ahead of the HerdAu Gold samples 54.20 g/t gold from the Shaw’s Main mine dump and adds two additional drill targets at Havelock Gold-Antimony Project – Richard Mills

<a href="https://aheadoftheherd.com/au-gold-samples-54-20-g-t-gold-from-the-shaws-main-mine-dump-and-adds-two-additional-drill-targets-at-havelock-gold-antimony-project/"><img align="center" alt="Au Gold samples 54.20 g/…

Sep 23 15:52

Ahead of the HerdGold majors returning record cash instead of building new mines – AOTH

<a href="https://aheadoftheherd.com/gold-majors-returning-record-cash-instead-of-building-new-mines-aoth/"><img align="center" alt="Gold majors returning record cash instead of building new mines – AOTH" height="347" src…

Sep 23 14:59

Gold EagleSome Maps Changed. Others Just Paid Off

<div class="views-field-byline">By <a href="https://www.gold-eagle.com/authors/anna-radomska">Anna Radomska</a> - September 23, 2026</div><div class="field field-name-body field-type-text-with-summary field-label-hidden"…

Sep 23 04:00

Gold EagleFOMC – From HogWarsh To WhiteWarsh

<div class="views-field-byline">By <a href="https://www.gold-eagle.com/authors/kelsey-williams">Kelsey Williams</a> - September 23, 2026</div><div class="field field-name-body field-type-text-with-summary field-label-hid…

Sep 23 04:00

Gold EagleWhy the Peace Tease Isn't Reaching Gold

<div class="views-field-byline">By <a href="https://www.gold-eagle.com/authors/p-radomski">P. Radomski</a> - September 23, 2026</div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div…

Sep 23 04:00

Gold Eagle$10,000 Gold! A Question of When, Not If

<div class="views-field-byline">By <a href="https://www.gold-eagle.com/authors/mike-maharrey">Mike Maharrey</a> - September 23, 2026</div><div class="field field-name-body field-type-text-with-summary field-label-hidden"…

Sep 23 04:00