Silver Market

⚡ Live Spot

$87.0000/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.

$87.0470 / $87.1660

Bid / Ask ℹ

Swissquote · spread $0.1190

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.

$5319.70/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.

61.15

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

¥644.52/oz

XAG/CNY ℹ

≈ ¥20.7218/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.

¥20.7218/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.

¥14,670/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.

€79.6149/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

$88.2600/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.

394.6M oz

COMEX Open Interest ℹ

78,920 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.

$87.14/oz

MEXC SILVER Futures

Real-time · USDT-margined

🏦 ETF Holdings

317.9M oz

SLV Silver Held ℹ

iShares · $51.5B 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.

$81.57 / $81.51

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.

110.7M 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 trades at $89.80 spot with SLV at $81.56, RSI at 33.9 signaling oversold conditions and MACD bearish — no technical momentum yet. Caution warranted as price remains below 52-week high of $84.98 on SLV with macro sentiment still gold-driven; wait for RSI recovery above 40 before adding exposure.

SLV $81.56 +0.38% RSI 34 SMA20 $81.91 SMA50 $81.47 MACD ▼ Bear 52w $77.66–$84.98 Au/Ag 61.1

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.

Gold EagleGold, Iran, and the “Yeah… No” Moment in Mining Stocks

<div class="views-field-byline">By <a href="https://www.gold-eagle.com/authors/p-radomski">P. Radomski</a> - March 03, 2026</div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div cla…

Mar 03 05:00

Gold EagleCritical Thinking about Critical Minerals

<div class="views-field-byline">By <a href="https://www.gold-eagle.com/authors/vincent-cook">Vincent Cook</a> - March 03, 2026</div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div…

Mar 03 05:00

Gold EagleCapitalism’s Coalition Is Cracking — And That Should Worry Us

<div class="views-field-byline">By <a href="https://www.gold-eagle.com/authors/vance-ginn-phd">Vance Ginn, Ph.D.</a> - March 03, 2026</div><div class="field field-name-body field-type-text-with-summary field-label-hidden…

Mar 03 05:00

Gold EagleGold in the Spotlight as Deglobalization Trend Accelerates

<div class="views-field-byline">By <a href="https://www.gold-eagle.com/authors/mike-maharrey">Mike Maharrey</a> - March 03, 2026</div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><di…

Mar 03 05:00

Gold EagleComex Gold Delivery Was Discouraged From The Beginning

<div class="views-field-byline">By <a href="https://www.gold-eagle.com/authors/david-morgan">David Morgan</a> - March 03, 2026</div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div…

Mar 03 05:00

Gold EagleCould the Rising Popularity of ETFs Dent Indian Physical Gold Demand?

Mar 03 05:00

Bloomberg MarketsChinese Copper Supplies Swell as Output Climbs to Record Levels

Chinese smelters continue to churn out record quantities of copper, swelling stockpiles and threatening to slow the metal’s powerful gains.…

Mar 03 04:42

Resource WorldSpanish Mountain signs MOU with Metso Canada

Spanish Mountain Gold Ltd. (the “Company” or “Spanish Mountain Gold”) (TSX-V: SPA) (FSE: S3Y) (OTCQB: SPAUF) is...…

Mar 02 23:45

Bloomberg MarketsStock Losses Worsen, Oil Advances on Iran Conflict: Markets Wrap

Stock losses deepened and bonds got sold off as Iran stepped up its attacks on the US and its allies in the Middle East, pushing oil prices higher and fueling inflation concerns. Gold added to its gains on haven demand.…

Mar 02 22:35

Resource WorldArizona Eagle Mining Corp. Emerges with High-Grade Arizona Gold and Manitoba Critical Minerals

By Peter Kennedy Privately owned Arizona Copper and Gold Inc. is going public via a...…

Mar 02 19:42

Resource WorldGalactic Gold Completes Phase I District-Scale Drill Target Analysis

Galactic Gold Corp. (TSXV: GGAU) (“Galactic Gold” or the “Company”) is pleased to announce the...…

Mar 02 15:29

Resource WorldGalleon Gold Receives Key Water Permit and Initiates Box Cut at its West Cache Gold Project in Timmins, Ontario

Galleon Gold Corp. (TSXV: GGO) (OTCQB: GGOXF) (FSE: 3H90) (the “Company” or “Galleon Gold”) is...…

Mar 02 15:01

Resource WorldJapan Gold discovers geophysical anomalies at Hakuryu Project, Japan

Japan Gold Corp. [TSXV: JG; OTCQB: JGLDF] reported that it has completed its review of the...…

Mar 02 14:23

Resource WorldArizona Metals’ Final Sugarloaf Peak Drill Results Demonstrate Robust Expansion and Continuity

Arizona Metals Corp. (TSX: AMC) (OTCQX: AZMCF) (the “Company” or “Arizona Metals“) is pleased to...…

Mar 02 13:56

Silver SeekSP500, Oil, & Silver: Key Wave Counts

<span>SP500, Oil, & Silver: Key Wave Counts</span> <div class="text-long">In all of these cases, wave (b) is likely heading back to 121.65 high, or very near it, and may even exceed it before it ends!</…

Mar 02 13:47

Silver SeekSP500, Oil, & Silver: Key Wave Counts

Mar 02 13:47

Resource WorldSilver One drilling for geotechnical pit slope study at Candelaria, Projec, Nevada

Silver One Resources Inc. [TSXV: SVE; OTCQX: SLVRF; FSE: BRK1] has begun a core drilling...…

Mar 02 12:59

Gold EagleGold Stocks: Record Highs In Play

<div class="views-field-byline">By <a href="https://www.gold-eagle.com/authors/morris-hubbartt">Morris Hubbartt</a> - March 02, 2026</div><div class="field field-name-body field-type-text-with-summary field-label-hidden"…

Mar 02 05:00

Gold EagleThis is NOT the Silver & Gold Rally You Think It Is

<div class="views-field-byline">By <a href="https://www.gold-eagle.com/authors/jordan-roy-byrne">Jordan Roy-Byrne</a> - March 02, 2026</div><div class="field field-name-body field-type-text-with-summary field-label-hidde…

Mar 02 05:00

Gold EagleUBS Describes What Has Them So Excited About Gold Miners

<div class="views-field-byline">By <a href="https://www.gold-eagle.com/authors/vince-lanci">Vince Lanci</a> - March 02, 2026</div><div class="field field-name-body field-type-text-with-summary field-label-hidden"><div cl…

Mar 02 05:00

Ahead of the HerdWhite Gold reports assays, announces critical minerals spin-out and multiple porphyry-style targets on Pedlar property – Richard Mills

<a href="https://aheadoftheherd.com/white-gold-reports-assays-announces-critical-minerals-spin-out-and-multiple-porphyry-style-targets-on-pedlar-property-richard-mills/"><img align="center" alt="White Gold reports assays…

Mar 01 19:56

Ahead of the HerdCassiar Gold Project: Bulk tonnage in the north + high-grade veins in the south – Richard Mills

<a href="https://aheadoftheherd.com/cassiar-gold-project-bulk-tonnage-in-the-north-high-grade-veins-in-the-south-richard-mills/"><img align="center" alt="Cassiar Gold Project: Bulk tonnage in the north + high-grade veins…

Mar 01 19:55

Ahead of the HerdGold Price Bubble Myth And Market Reality

<a href="https://aheadoftheherd.com/gold-price-bubble-myth-and-market-reality/"><img align="center" alt="Gold Price Bubble Myth And Market Reality" height="347" src="https://aheadoftheherd.com/wp-content/uploads/2026/03/…

Mar 01 19:45

Silver SeekThe Set-Up in Silver: Even More Incandescently White-Hot Bullish

<span>The Set-Up in Silver: Even More Incandescently White-Hot Bullish</span> <div class="text-long">Despite the fact that silver rose around $15 during the holiday-shortened reporting week, I was amazed bu…

Mar 01 10:06

Gold EagleWhy Is American Healthcare So Expensive?

<div class="views-field-byline">By <a href="https://www.gold-eagle.com/authors/bryan%C2%A0theunissen">Bryan Theunissen</a> - March 02, 2026</div><div class="field field-name-body field-type-text-with-summary field-label-…

Mar 01 05:00

Crescat CapitalUS Military Strike on Iran

With the escalating conflict in the Middle East, we believe there is little about Crescat’s portfolio positioning that needs significant realignment. We remain substantially long undervalued high-growth precious metals m…

Mar 01 02:52