Select the time period, currency and weight unit above to display the silver price chart you would like to view. The 24-hour chart displays price movements over the last three days.
Silver weight units
Troy ounces are generally used as a measure for the pricing and weighing of silver. A troy ounce equals 31.1034 grams. At GoldMoney, we use the troy ounce, which we call a silver ounce, as the unit of account to record the amount of silver we store for customers.
Silver spot prices
The global markets trade silver almost 24 hours a day, 5 days a week. At GoldMoney, we calculate the spot price based on the most recent average bid price offered by professional traders throughout the world.
We automatically update our silver spot prices and rates every minute. You buy silver with us at the spot price, to which we add our consistent buy rate. The buy rate is a fixed percentage of the purchase amount. You sell silver to us at the spot price with no added fees*. Find out more about our transparent and economical silver rates.
London silver fixing prices
In addition to the silver spot price, the London silver fixing prices are also of importance. The term 'fix' is used in a nautical sense, as in fixing on a point, and it indicates the price at which the market is balanced. The 'fix' occurs when the buy and sell orders of the fixing brokers are matched to bring the market into balance at a certain price, which becomes the 'fixing' price or 'fix' for short.
The London silver fix is set each business day and the fixing begins at 12 noon (7 am in New York). In contrast to gold, platinum and palladium there is only one daily fixing, which is set by the 5 members of The London Silver Market Fixing Ltd. and is widely followed to provide daily silver price quotes. Furthermore, it is reported in major newspapers and on many silver-related websites. We use weekly London silver fix prices to draw the silver charts above.
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Silver price research
Take a look at the rest of our research section to learn more about silver price fundamentals.
* In exceptional circumstances, GoldMoney may charge a sell fee. The purpose is to provide liquidity to the seller regardless of market conditions. For example, during rare events such as extreme market conditions, we may need to sell to a bullion dealer the metal that we purchase from a customer. If the dealer charges a fee that GoldMoney cannot reasonably absorb, the fee would be passed on to the customer. In keeping with our longstanding policy of full disclosure, if a sell fee is ever imposed, you will be advised of the fee before you transact, thus giving you the choice whether or not to proceed with the sale.