Silver Price

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Silver Price Chart

The global price of silver is constantly changing across the major markets including the London Bullion Market Association (LBMA), Comex in New York, Tocom in Tokyo and the Shanghai Gold Exchange with smaller exchanges in Istanbul, Moscow, India and Singapore.

The price of silver bullion shown on the silver price graph above is for pure 999 fine silver, the standard used for the vast majority of silver bullion coins and bars. By default, the price of silver chart shows the current silver price in troy ounces and pounds sterling (GBP). It is important to note that the troy ounce, a unit often used to measure precious metals, is not the same as the common kitchen ounce. The troy ounce is around 3 grams heavier, at 31.103g. The weight options above the graph can also be changed to view the silver price in grams (g) or kilograms (kg).

For anyone asking ‘what’s the price of silver’ our chart of silver prices is the perfect way for investors to track the recent trend in this alternative investment metal. Whether you are looking for the right time to buy or sell, or simply want to see what the current silver price is, this is the chart for you. In addition to the current silver market price, we also display the weekly change as a percentage and figure, as well as the low and high silver prices for the week. Our silver chart is fast-loading, accurate, and fully customisable, making it a great way for any investor to track the price of silver.

The silver bullion price is released in different forms, used by different parts of the market. The most commonly used silver price used for retail purchases is the silver spot price. The price for silver is issued Monday – Friday with the silver market closing 22:00 – 23:00 GMT each night. The market also closes at the weekend and certain bank holidays, so you will notice our silver price chart will display a flat line during these periods.

The LBMA also issue their own silver price once a day, known as the LBMA silver price. As this price of silver doesn’t fluctuate over the course of the day it is typically used for large trades, where the constant fluctuation in the market value of silver could have much wider implications.

Silver Value

The silver value shown on our charts is based on large wholesale purchases and trades of silver around the world. The price of silver is officially set in US dollars, so our silver price charts (which are priced in pound sterling GBP) will represent both the value of silver globally, and the effect that any currency fluctuations will also have.

A stronger pound will see the price of silver fall in GBP. Periods of a weaker pound will see the price of silver rise. It is therefore important for UK silver investors to consider the state of the UK economy and fiscal policy, as another key driver for the price of silver. The chart can be customised to show the price of silver in dollars or euros.

When buying smaller amount of silver for investment purposes, a premium will be added to account for the manufacturing costs of the product. Silver is also VAT applicable in the UK, as such the silver pricing chart is a good way to track the general trends of the silver price, but wont necessarily reflect the true silver cost when buying. The silver chart price can be used then to understand what direction the metal is moving, but when buying or selling you will typically see a higher value for silver being traded.

The Price of Silver

The price of silver is determined via a more complex range of factors compared to that of gold. Although silver prices are influenced by the same global trends as gold (economic uncertainty, geopolitics etc), industrial demand for silver represents a much higher percentage to that of gold. This means that silver can be boosted by periods of high industrial output but can also see demand fall during recessions and slumps.

This, and the lower overall price, make the price of silver much more volatile. The silver value can increase very quickly and by large amounts but can also fall in much the same way. This makes silver a higher risk investment option, but with greater potential rewards. The longer it can be held the more opportunity for the silver price to rise and put you in profit.

Silver Rate

The silver rate shown on most charts is for pure 999 fine silver, which is the typical purity used for investment grade silver. Although there isn’t a silver rate chart for other purities, such as a Sterling Silver price chart, you can quite easily calculate a rough silver value for other purities as long as you know the fineness of the item. To calculate the Sterling Silver rate for example, you simply take the pure value of our silver price charts and multiply it by 0.925.

Below is a handy table to make it simple to calculate all the silver rates for the most common purities of silver found in jewellery and antiques in the UK. This will allow you to calculate the value of silver for any unwanted items you may have.

Silver Price Alerts

Due to the price of silver being more volatile, it can require more regular checking than with other metals. This makes our silver price alerts a valuable tool for any investor. Simply set up the parameters of your choice (price targets, percentage movements etc) and our system will send an email to your inbox when reached.

For those looking for further information on why the silver price is moving, we regularly post updates on the major economic events on our price news section, social media channels, or through our email newsletter, giving you a more detailed analysis to accompany our silver price alerts.

Silver Price FAQ

Does BullionByPost use the Silver Market Price?

Our silver coins and bars are priced based on the silver market price shown on our charts. As mentioned above however, there will be a premium plus VAT added to the silver price. Larger transactions (typically £50,000 or higher) may be placed using the LBMA silver price to ensure a fair silver cost for both parties. If the LBMA silver price needs to be used this will be communicated over the phone prior to the purchase/sale being placed so you know in advance whether it will be the LBMA silver price or silver market price.

Where can I Access the BullionByPost Silver Charts?

Our silver price trend charts can be viewed on both desktop and mobile browsers, with a wide range of customisation options for you to build a silver price graph that suits your needs best. We also have a dedicated silver price charts app available on both the Google Play and Apple Store.

Is the Silver Price going up or down?

Our silver price charts are a great way to work out if the silver price is going up or down over a variety of timeframes. Using either the chart line itself for a visual representation, or the percentage change figures provided, it is easy to tell how the price of silver is changing. With a wide variety of timeframes available it’s simple to identify short or long-term silver price trends.

What is the highest spot price of silver ever?

The highest spot price of silver ever reached was £29.26 per ounce, which took place in April 2011. The price of silver saw significant growth over the course of the financial crisis, peaking three years later before pulling back, and this remains the highest spot price silver has reached to date.

Linking the highest ever silver price to an event in the world can usually be done quite easily, though the time delay seen in 2011 for example is a good reminder that it can take time for global events to feed through and effect precious metals.

The volatility of silver means there have only been two significant all-time highs of note in the recent decades, both of which significantly dwarfed the general silver rates at that time. These are shown below, with a note of what caused them: