Question 1

What is the COMEX silver futures contract?

Accepted Answer

It is a standardized agreement to buy or sell 5,000 troy ounces of .999 fine silver for delivery in a specified month, traded on CME's COMEX in New York under ticker SI. It is the most liquid silver derivative in the world.

Question 2

How do COMEX futures affect the spot price?

Accepted Answer

Arbitrage keeps them linked: if futures trade too far above spot, traders buy spot and sell futures until the gap closes. Because COMEX volume dwarfs physical trade, futures order flow effectively sets the price the whole world references.

Question 3

What is contango in silver?

Accepted Answer

Contango is when futures prices sit above spot — the normal state, reflecting storage and financing costs. Backwardation (futures below spot) signals tight near-term supply and often precedes sharp rallies.

Question 4

When does COMEX silver trade?

Accepted Answer

Nearly 24 hours: Sunday 6pm to Friday 5pm US Eastern, with a daily one-hour halt from 5pm to 6pm. The most active window is the New York morning when US economic data hits.

Question 5

Can I take delivery of COMEX silver?

Accepted Answer

In theory, yes — contracts allow delivery of 5,000-ounce bars into COMEX vaults. In practice, over 99% of contracts are closed or rolled before expiry; delivery is for refiners, mints and large funds, not retail traders.

Troy ounce (31.10 g)	$53.99
Gram	$1.74
Kilogram	$1,735.69
Tola (11.66 g)	$20.24

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