Question 1

What exactly is the silver spot price?

Accepted Answer

It is the price for silver delivered on the spot — typically within two business days — as opposed to a futures contract for delivery months away. Quoted as XAG/USD per troy ounce, it reflects real wholesale transactions happening right now.

Question 2

How is the spot price different from the COMEX futures price?

Accepted Answer

Spot is for immediate delivery; futures are for a set future month. The two usually differ by the cost of carry — storage and financing — a gap called contango when futures trade above spot. They converge as the contract nears expiry.

Question 3

Who decides the silver spot price?

Accepted Answer

No single entity. It is the consensus of thousands of buy and sell orders across the global OTC market, with the LBMA's twice-daily silver price auction in London providing a widely referenced benchmark snapshot.

Question 4

Why is retail silver always above spot?

Accepted Answer

Turning a 1,000-ounce wholesale bar into coins or small bars costs money — minting, assaying, packaging, shipping, insurance and the dealer's margin. That markup over spot is called the premium, and it varies by product and market conditions.

Question 5

What is the LBMA silver price?

Accepted Answer

The LBMA silver price is set in an electronic auction in London at noon each business day, with major banks submitting orders until buy and sell interest balance. Many miners, refiners and industrial contracts reference it for settlement.

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

Spot Silver Price

SILVER PRICE BY COUNTRY

SILVER CONVERSIONS

Frequently asked questions

Related prices

WORLD GOLD PRICES