Silver price today, live, with the week's tape

Signals, right now

Silver is two markets wearing one price

Roughly half of silver demand is industrial, in solar cells, electrical contacts and brazing alloys, and the rest is investment and jewellery. Gold has almost none of the first. That split is why silver can rally on a manufacturing survey that leaves gold flat, and why it falls harder in a growth scare even when the monetary case is unchanged. When the realised volatility above runs well over gold's, this is usually the reason.

A thinner market moves further on the same news

The total value of silver traded is a small fraction of gold's, so an order that gold absorbs without moving can push silver several percent. The practical consequence is on the cost-to-cross figure above and on the seven-day range: silver's range is routinely two to three times gold's in percentage terms. Read the gold-silver ratio with that in mind, because most of its movement comes from this side.

Per troy ounce, and not the price of a coin

This number is dollars per troy ounce for the contract. A dealer selling a one-ounce coin charges a premium over it for fabrication, distribution and margin, and buys back below it. Those premiums move independently and widen sharply when retail demand spikes, which is precisely when people check a page like this. If you are pricing physical metal, start here and then ask the dealer, because the gap is the part this page cannot tell you.

The part we cannot verify

Pacifica publishes the symbol, the live book and hourly candles. It does not publish how the XAG reference price is derived, nor the interval its funding rate settles over, which is why the funding figure above is shown per interval and not annualised. The price was checked against an independent silver quote when this page was built and agreed to within a fraction of a percent, but that check is not repeated on every render.