Silver Market

⚡ Live Spot

$66.7200/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.

$66.5805 / $66.6265

Bid / Ask ℹ

Swissquote · spread $0.0460

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.

$4382.90/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.

65.69

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

¥443.22/oz

XAG/CNY ℹ

≈ ¥14.2498/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.

¥14.2498/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.

¥10,375/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.

€57.5010/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

$67.1700/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.

$60.15 / $58.48

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 $60.15 +0.01% RSI 70 SMA20 $59.52 SMA50 $58.40 MACD ▲ Bull 52w $56.59–$60.15 Au/Ag 65.7

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.

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

Resource WorldAmericas Gold and Silver continue discoveries at Galena Complex with a New Galena Mine vein discovery, Idaho

Americas Gold and Silver Corp. [TSX: USA; NYSE American: USAS], a North American producer of...…

Sep 18 12:33

Resource WorldGoliath Drills Up To 9.12 g/t AuEq Over 11.27 Meters With Visible Gold And Expands Bonanza Zone At The High-Grade Gold Surebet Discovery That Remains Open For Expansion, Golden Triangle, B.C.

Drill hole GD-26-431 intersected two neighbouring broad mineralized intervals that are part of the Bonanza...…

Sep 18 12:13

Resource WorldNicola Mining’s first-ever drill program at Treasure Mountain, British Columbia, intersects intense mineralization

Nicola Mining Inc. [NASDAQ: NICM; TSXV: NIM; FSE: HLIA] reported that it has commenced its...…

Sep 18 12:01

Resource WorldFirst Mining Gold unveils $50 million bought deal financing

First Mining Gold Corp. [FF-TSX, FMG-Frankfurt] has announced details of a $50 million bought deal...…

Sep 18 11:59

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

Gold EagleThe Market Finally Picked a Side - Now Comes the Real Test

Sep 18 04:00

Gold EagleHut, Hut, Hike! The Fed Raised Rates; Now What?

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

Sep 18 04:00

Gold EagleVaulting Space in Short Supply as Singapore Positions Itself as a Major Gold Hub

Sep 18 04:00

Resource WorldTudor Gold drills 12 metres of 0.48% copper at Treaty Creek, British Columbia

Tudor Gold Corp. [TSXV: TUD; OTC: TDRRF; FRA: H56.F] reported results from 10 drill holes...…

Sep 17 16:03

Ahead of the HerdUnder the Spotlight – Marc Blythe, CEO AU Gold TSXV:AUGC

<a href="https://aheadoftheherd.com/under-the-spotlight-marc-blythe-ceo-au-gold-tsxvaugc-2/"><img align="center" alt="Under the Spotlight – Marc Blythe, CEO AU Gold TSXV:AUGC" height="347" src="https://aheadoftheherd.com…

Sep 17 14:52

Ahead of the HerdGold SWOT: Jeff Currie sees Treasury buybacks as bullish for gold

<a href="https://aheadoftheherd.com/gold-swot-jeff-currie-sees-treasury-buybacks-as-bullish-for-gold/"><img align="center" alt="Gold SWOT: Jeff Currie sees Treasury buybacks as bullish for gold" height="347" src="https:/…

Sep 17 14:45

Resource WorldDryden Gold discovers visible gold at Mud Lake North Project, Ontario

Dryden Gold Corp. [TSXV: DRY; OTCQX: DRYGF; Frankfurt: X7W] has discovered visible gold in the...…

Sep 17 14:29

Resource WorldCartier tables updated PEA for Quebec gold project, shares rise

Cartier Resources Inc. [ECR-TSXV, 6CA-FSE] has announced the results of an updated preliminary economic assessment...…

Sep 17 13:00

Gold EagleGoldilocks Painted Into Existence

<div class="views-field-byline">By <a href="https://www.gold-eagle.com/authors/gary-tanashian">Gary Tanashian</a> - September 17, 2026</div><div class="field field-name-body field-type-text-with-summary field-label-hidde…

Sep 17 04:00

Gold EagleSo You Think Bank Earnings Were Strong? Take Another Look

<div class="views-field-byline">By <a href="https://www.gold-eagle.com/authors/avi-gilburt">Avi Gilburt</a> - September 17, 2026</div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><di…

Sep 17 04:00

Ahead of the HerdCopper and silver usage in data centers, robotics and solid state batteries

<a href="https://aheadoftheherd.com/copper-and-silver-usage-in-data-centers-robotics-and-solid-state-batteries/"><img align="center" alt="Copper and silver usage in data centers, robotics and solid state batteries " hei…

Sep 16 17:56