Spot Silver Prices
Precious metals are traded throughout the day in different markets. The most active trading occurs in New York, London, Zurich, Tokyo, Sydney and Hong Kong. The prices quoted in the charts below reflect the "spot" price of precious metals. The spot price refers to the price paid for immediate delivery. The spot prices for gold and silver bullion are set by millions of traders buying and selling futures contracts, which are contracts to deliver gold or silver at some future date (in other words, gold or silver IOUs). It is also the price that large industrial users and the mints pay before converting gold and silver.
Silver prices are poised to shoot up dramatically for a number of reasons.For one, supply of silver has dramatically gone down and demand has gone up. This is because silver consumed more than ever. It is used in such things as cell phones, computers, band-aids, light switches, and reflectors in mirrors. And secondly, the above ground silver supply has gone down dramatically. In 1950 there was 10 Billion ounces. In 2011 there is only an estimated supply of between 500 and 700 million ounces. Third, money is flowing to gold and silver, both as an investment and as an insurance policy against a weakened dollar. Watch the brief video below for a an eye opening insight on why Silver prices are poised to rise dramatically.
Silver-Prices The silver spot price shown is the ASK price and are current and up to date.
24 HR SILVER
3 MONTH SILVER
1 YEAR SILVER
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