Silver

$16.40 (US/oz)

10:30 am 26/07

-0.142 (-0.86%)

Movement

15.53
20.69

-16.54%

1 Year Return

About & Performance

Silver (Ag) is a precious metal that’s around 1/80 the price of gold.

Demand for silver comes equally from both industrial and investment avenues (significantly more than gold's 11% industrial demand). This unique balance means that the economic outlook for the world economy can directly affect the price.

The U.S. Geological Survey (2015) states the global usage of silver is:

  • Electrical & Electronics - 29%
  • Coins & Medals - 25%
  • Photography - 8%
  • Jewellery & Silverware - 7%
  • Other - 31%

The London bullion market (LBMA) is regarded as the industry benchmark with the spot price set once daily at 12:00pm GMT in US dollars. COMEX Futures are usually quoted online as they are transparent and trade 24 hours a day.

Market Index tracks the COMEX Futures.

Performance (US/oz) Amount Change
1 Week +0.15 +0.89%
1 Month -0.29 -1.71%
3 Month -1.47 -8.23%
6 Month -0.79 -4.57%
1 Year -3.25 -16.54%

10:30 am (Sydney) 26/07

Silver Prices USD AUD
Troy ounce (oz) $16.40 $20.67
Pound (lb) $239.17 $301.41
Gram (g) $0.53 $0.66
Kilogram (kg) $527.27 $664.49

10:30 am (Sydney) 26/07

ASX Silver Companies

- delayed

Code Company Price Change % Chg High Low Volume Mkt Cap 1 Year
Strong Buy

The ASX doesn’t have many silver companies. Most companies mine silver as a by-product of producing other metals (e.g. lead, zinc, copper and gold). Australia holds around 16% of the world’s silver resources with 55% located in Queensland [1]. View an image of Australia’s 2016 silver deposits and operating mines.

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FAQs

What is the silver "spot price"?

 

The silver “spot price” is the current market price in US dollars for one troy ounce (31.1g) of 99.9% pure silver.

Sometimes a website will display the spot price in a local currency (e.g. AUD on an Australian website) by converting the USD price to the local currency. When a website converts the price to a local currency, it’s usually indicated.

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What's the difference between "ounce" and "troy ounce"?

 

Silver is measured in troy ounces where one troy ounce equals 31.1035g (as compared to a regular ounce being 28.3495g).

1 troy ounce = 32.1035g
32.1507 troy ounces = 1kg

Silver bars range in size from 0.032oz (1g) to 50oz (1.6kg).

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Why does the silver price differ between websites?

 

There is no "official" 24 hour silver price. While the LBMA is considered the industry benchmark, its price is only set once daily.

To publish 24 hour prices, data must be compiled from different exchanges or futures markets. Data feeds may use the bid price, ask price, the average, or combine different data feeds. The closing price or day's movement may differ according to the site's timezone e.g. Europe, North America or Asia.

Either way, the difference in price between websites is usually negligible.

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Is silver traded 24 hours a day?

 

Silver is traded throughout the world in multiple timezones so there’s always at least one market open (excluding weekends).

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Is silver cheaper in different countries?

 

No, silver markets move in unison. If there was a difference in price then arbitrage opportunities would exist.

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How can Australians invest in silver?

 

The most common ways an Australian investor can get exposure to silver are:

      1. Physical Bullion (bars & coins)
      2. ASX Listed ETF
      3. Indirectly via an ASX listed gold company

Physical Bullion
The Perth Mint is Australia’s official bullion dealer. Buy silver coins and bars with purity guaranteed by the Government of Western Australia. Bars can usually be traded internationally without the need for assay. Bullion is normally traded at a slight premium to the spot price to cover manufacturing costs.

ASX Listed ETF
     1. ETFS Physical Silver (ETPMAG) - Backed by physical silver held by HSBC Bank.

Indirect via an ASX listed silver company
See the list of ASX silver companies above.

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Historical Chart

 

Resources

Links

ASX-Listed Silver ETF - Details on the only (July 2016) ASX-listed ETF that tracks the spot price of silver.

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