When people refer to the silver spot price, or the spot price of any metal for that matter, they are referring to the price at which the metal may be exchanged and delivered upon now. In other words, the spot price is the price at which silver is currently trading. Spot prices are often referred to in the silver and gold markets, as well as crude oil and other commodities. Price is in a constant state of discovery and is watched by banks, financial institutions, dealers and retail investors.
All of the products on our website are priced based on a premium to spot price, and therefore you will notice that prices update every few seconds during market hours. This allows customers to invest based on the most up to date market conditions possible.
Silver is available for investment in many different forms, including paper silver and silver bullion. Physical silver bullion is most commonly found in coin, round and bar form with several size options for each. Some investors enjoy owning government-minted coins while others prefer paying lower premiums for bullion bars and rounds. In any case, there are a vast amount of options available in terms of this investment vehicle.
The bid price is the maximum offer available for a particular commodity at the present time. The ask price is the minimum asking price available for a particular commodity at the present time. More simply, if you want to buy, you will pay the ask price. If you want to sell, you will receive the bid price.
Silver futures contracts are an agreement for a buyer to purchase a fixed amount of silver from a seller, at a fixed price, at a specific time in the future. A simple example would be a buyer agreeing to purchase 5,000 troy ounces of silver, at $20/troy ounce, two months from present. If during those two months, the price of silver decreases $2, the seller would profit $10,000, as they could source the silver on the open market for $90,000 and then sell it via the futures contract for $100,000. If during those two months, the price of silver increases $2, the buyer would profit $10,000, as they have now purchased $110,000 worth of silver for only $100,000 cash.
Futures contracts also allow bullion dealers, including JM Bullion, to hedge their physical silver positions by electronically buying or selling metal out in the future to offset their physical inventory positions. As spot prices move up and down, the offsetting gains and losses between physical and futures positions ensure that movements in spot do not affect our company.
Right here on our website, of course. JM Bullion offers a wide variety of quality physical silver bullion products for purchase 24 hours a day, 7 days a week at the lowest prices in the industry. Browse some of our selection at the links below:
Please note that JM Bullion is the only major retailer in the industry currently offering FREE SHIPPING on all orders to the United States. This allows our customers to keep their transaction fees on silver bullion purchases at an absolute minimum.
Depending on where you live, the silver spot price may not be listed in the currency you require. For that reason, APMEX provides a Silver Converter Tool to calculate the silver price based on various factors, such as the currency, quantity, unit of measure and purity of the silver.
Silver bullion refers to a silver product that is valued by and sold mostly for its metal content and does not contain any numismatic or collectible value. silver bullion often appears in the form of bars, rounds and sovereign coins that carry a face value and are backed by a government. These products are most commonly categorized therefore as either .999 fine or .9999 fine silver bullion, meaning the product is either 99.9% or 99.99% pure silver.Browse our broad selection find the perfect silver bullion coin for your collection today.If you are interested in diversifying your silver bullion with gold, explore our selection of gold bullion for sale today.
The price of silver can fluctuate based on market conditions, supply and demand, geopolitical events and more. When someone refers to the price of silver per ounce, they are referring to the silver spot price. While the overall price of your coin will change with the silver spot price, silver coin values can still vary depending on other factors such as mintage, scarcity and condition. Whether they come from a private mint or a sovereign mint, silver coin values will differ.
Silver prices, at any given moment, are the same no matter where you buy in the world. Live silver prices always reflect silver traded in U.S. dollars. In local markets, the silver price in USD is simply converted to the local currency to reflect the price for 1 troy ounce of silver. There are some better-known exchange markets located around the world for trading Precious Metals that are always up to date on the silver spot prices such as the COMEX, NYMEX, LBM and CGSE.
The Gold to Silver Ratio is a formula used to determine how many ounces of silver it takes to buy one ounce of gold. For the ratio, take the price of gold divided by the price of silver. Investors use this ratio to determine the relative value of silver to see if a potential buying opportunity exists. Track today's live gold price and stay informed.Interested in diversifying your investment strategy with gold Browse our broad selection of gold coins, rounds and bars.
When ordering online or over the telephone with us, your price is locked in the moment your order is submitted. After submitting your order, you will also receive an email containing an order confirmation listing what you purchased and your final price.
This is a classification of specific metals that are considered rare and have a higher economic value compared to other metals. There are five main precious metals openly traded on various exchanges, Silver is the second largest market in this specific sector. Silver is sometimes referred to as monetary metals as it has historical uses as currencies and is seen as a store of value; however, silver has a significant industrial component, equivalent to almost half of its markets, because it is less reactive, good conductors and highly malleable.
The silver futures market is one of a number of commodity futures, wherein contracts are entered into, agreeing to buy or sell silver at a certain price at a specified future date. Silver futures are used both as a way for silver producers and market makers to hedge their products against fluctuations in the market, and as a way for speculators to make money off of those same movements in the market.
A precious metals futures contract is a legally binding agreement for delivery of a metal in the future at an agreed-upon price. The contracts are standardized by a futures exchange as to quantity, quality, time and place of delivery. Only the price is variable.
Hedgers use these contracts as a way to manage their price risk on an expected purchase or sale of the physical metal. They also provide speculators with an opportunity to participate in the markets by lodging exchange required margin.
Every precious metals market has a corresponding benchmark price that is set on a daily basis. These benchmarks are used mostly for commercial contracts and producer agreements. These benchmarks are calculated partly from trading activity in the spot market.
Silver, actually trades 23 hours a day Sunday through Friday. Most OTC markets overlap each other; there is a one-hour period between 5 p.m. and 6 p.m. eastern time where no market is actively trading. However, despite this one hour close, because spot is traded on OTC markets, there are no official opening or closing prices.
The spread is the price difference between the bid and the ask price. Silver is a fairly liquid markets so traders can expect to see a fairly narrow spread in these markets; however, other precious metals may have wider spreads, reflecting a more illiquid marketplace.
Because there is no official closing or opening price for gold or silver, market participants rely on benchmark prices, set during different times of the day by different organizations. These benchmarks are also referred to as fixings.
The London Bullion Market Association (LBMA) is the leading organization that is responsible for maintaining benchmarks for all precious metals. The LBMA Silver Price, The LBMA Gold Price, and the LBMA PGM Price are the widely accepted benchmarks in the precious metals space. Kitco.com also provides a variety of benchmark prices for gold and silver.
Like the previous gold fix, the London Silver Fix was a global benchmark used for over 100 years but was revamped in August 2014. The widely used LBMA Silver Price auction is operated by CME and administered by Thomson Reuters. The price is set daily in U.S. dollars at 12:00pm London time and has changed the process from being a physical to an electronic auction.
The Kitco.com 10 AM Silver Fix consists of four fixing prices each day: the 10 AM New York Silver Fix, the 10 AM UK Silver Fix, the 10 AM Mumbai Silver Fix and the 10 AM Hong Kong Silver Fix. These time zones have been selected because they represent the world's largest precious metals trading centers.
The 10 AM Silver Fix is determined by a unique Kitco algorithm that calculates the average spot price between bid/offer on the wholesale silver market, as quoted by internationally recognized bullion dealers. The Kitco Silver Fix can be found at:
A troy ounce is used specifically in the weighing and pricing of precious metals and its use dates back to the Roman Empire when currencies were valued in weight. The process was carried over to the British Empire where one pound sterling was worth one troy pound of silver. The U.S. Mint adopted the troy ounce system in 1828.
The reason gold and silver prices vary widely boils down to one simple fact: rarity. The less supply there is of a metal, the higher the price. Therefore, gold prices tend to be much higher than silver prices because it is much harder to get. The reason supply is much larger for silver is because it is an easier metal to mine and it is often mined as a by-product to other metals mining. The average occurrence of gold in igneous rock is 0.004 parts per million. Silver shows up at a rate of 0.07 parts per million. 59ce067264