The price of silver opened at $27.71 per ounce, as of 9 a.m. ET. That’s down 0.42% from the previous day and up 15.83% year to date.
The lowest trading price within the last day: $27.46 per ounce. The highest silver spot price in the last 24 hours: $28.05 per ounce.

Silver’s spot price is the current rate at which the precious metal can be purchased or sold immediately. This differs from futures contracts, which involve agreeing to buy or sell silver at a predetermined price for delivery at a future date.
The spot price of silver against the U.S. dollar is represented by XAG/USD. For euros, it’s XAG/EUR, and for British pounds, it’s XAG/GBP. Since the market operates around the clock, these prices are continuously changing.
 

The value of silver

Silver is a widely traded precious metal favored by investors. Historically, it has served as both a store of value and a medium of exchange. While it is less sought after than gold, many traders use silver to diversify their investment portfolios, due to its inherent value or as a potential hedge against inflation. Investors have the option to buy physical silver in the form of coins or bars, or to trade it through financial instruments like Exchange Traded Funds (ETFs) that track its price on global markets.
 

Silver prices relate to Gold’s moves

Silver prices often move in tandem with gold prices, as both metals are viewed as safe-haven assets. When gold prices increase, silver usually rises as well. The Gold/Silver ratio, which indicates how many ounces of silver are needed to equal the value of one ounce of gold, can provide insights into their relative valuations. A high ratio might suggest that silver is undervalued or gold is overvalued, while a low ratio could imply that gold is undervalued compared to silver.

As of 9 a.m., silver has risen by 15.83% since January 1. It reached its 52-week peak of $32.51 on May 19, 2024, and its 52-week low of $20.69 on October 2, 2023.
The spot price reflects the current market rate, representing the price "on the spot." Silver prices, like those of gold, are typically quoted in troy ounces, with one troy ounce equivalent to 1.097 standard ounces.

Several factors influence the spot price of silver. Many investors prefer to trade using futures contracts instead of dealing with spot prices.