Price of Silver Per Ounce ☛
The silver live chart above shows the current spot price of silver per ounce in US dollars. You can set a custom period by selecting the time range of your preference at the top of the chart.
Silver Live Chart
To see the particular price on a point within the specified range, hover the mouse over the graph from left to right.
This silver live chart is updated every 10 seconds. Visit this page to review the chart from time to time because as with silver, like gold, prices vary frequently.
Price of Silver Per Ounce in US Dollars
In this article, after reminding ourselves why silver is so valued as a precious metal, we will look at what factors affect the price of silver and then we’ll go on to look at the historical performance of silver prices.
Why is Silver so Valuable?
The price of silver per ounce tends to increase over the long term because it has always been considered an important commodity. Many countries have already seen its potential and have been stockpiling and hoarding metals such as silver frantically over the past few years. Countries have been fighting over it, and storing as much of these resources as they can.
Like land, gold and other valuable commodities, silver’s cost appreciates as time progresses. Silver can be used in a variety of ways, not only for jewelry use. Silver is one of the most valuable metals on Earth.
What is Silver Used For?
It is used in the pursuit of science and technology. A lot of Research and Development institutions incorporate silver in experiments. From surgical equipment to incorporating it as a treatment, silver also proves its usefulness in the field of medicine. It is a catalyst of technology.
It is also used in industry for manufacturing a wide range of products. Since it is a good conductor of electricity, it is used in major electronic products. Silver’s unsurpassed thermal and electrical conductivity make many technologies rely on it. It is used in high quality equipment and devices. It also has many industrial applications and is even involved in chemical production.
What Factors Affect the Value of Silver?
These are some of the main factors that had an influence over the price of silver per ounce that you saw in the chart on this page.
How Does Supply and Demand Affect Silver Price?
The balance of demand and supply has been the main driver of the silver price per ounce. As basic economics tells us, a higher supply in silver with lesser demand leads to a low price of silver. If the demand of physical silver bars and coins is high but the supply of these reserves is short, there would be an increase in the price.
How Does Institutional Manipulation Affect Silver Price?
Naked short selling of metal commodities drives its price down. It has been long suspected and evidence has shown that the Federal Reserve has been manipulating silver prices, as it may undermine dollar value.
One of the theories involves strong evidence found in a JP Morgan silver manipulation case. That company was sued by investors in 2010 alleging charges of artificially suppressing the silver futures market by taking large short positions. However the case closed with JP Morgan winning the case.
Many investigations, allegations and cases surfaced but to date, no one has been taken to task for manipulation of the precious metal’s price. To this day, many investors are still on the hunt for the truth of this governmental and institutional manipulation.
Did the US Treasury Sell Silver to Keep Silver Price Down?
In addition, the development of our economy also indicated the increased need for monetary coinage. The U.S. Treasury sold off their pile of silver in order to keep the silver price per ounce below its “monetary value.” Monetary value refers to the price value corresponding to the unchanging supply of silver. At those times, its monetary value was at $1.29 per ounce.
What is the History of Silver Prices?
The upward trend began over 50 years ago. The end of World War II marked the rise of demand for silver. Those times were marked by advancing in the electrical technology. Electricity’s optimum medium is silver. The purpose of electrical generation and transmission became the core reason that silver demand rose sharply in the early 1960s. The world was entering a new industrial era and silver was part and parcel of that.
Price of Silver Per Ounce Landmarks
Here are some landmarks in the recent history of the silver price per ounce:
• The price of silver per ounce averaged $4.95 in the year 2000.
• In 2001, the price averaged to$4.37 per ounce.
• In 2002, it rose to $4.60 per ounce, reaching a 5% year on year increase over 2001 despite of a global economic crisis.
• Silver prices made a huge leap in 2004, to an average of $6.66 per ounce, a 36% increase from 2003’s $4.85 per ounce average. It was a result of high investor activities, and mainly coming from funds based on future stakes made by high net-worth individuals.
• In 2007, strong investments for industrial demands averaged to an astounding $13.38 per troy ounce.
• The price of silver increased at incredible amounts year on year. In 2010, it rose to $20.19. This was a 40% increase from 2009’s $14.67. Silver prices in 2010 resulted in a net flow of $5.6 billion, doubling the net flow garnered in the previous year.
• In 2011, the investment demand for silvers in bullion bar, coin, and medal forms soared to impressive levels. The annual price increase to $35.12, doubling the annual average within two years.
• In 2012, silver prices became largely independent of global silver investor demand, accounting for almost a quarter of the total demand. The annual price decreased slightly to $31.15. It was a volatile year for most metals.
• In 2013, strong retail purchases and demand drove growth for physical silver forms in several markets. The average price of silver decreased by $23.79 per troy ounce, but demand for physical bars rose by 27% to 247.2 Moz.
• In 2014, silver coins and physical bars remained steady at historically high levels. Growth due to market demands was also experienced in countries outside US such as Spain, Canada and India.
• India reached 4% growth from the previous year, but was buffered by a slowdown of Chinese growth, leading to a low $19.08 average silver price in the markets in 2014.
Price of Silver per Ounce Today
At the time of writing, the price of silver per ounce today is at a short-term low and displays great value when compared to the price of gold and to the S&P share index. This is a “buy” signal for many investors, myself included.
The value of silver, like gold, has been unstable for the past few years. From the graph and from historical track records, it can be seen that over the years that the trend has always been going up. The value of silver may decrease for short and frequent periods but never really declines for an extended time.
If you came to this page asking "what is the price of silver?" or "how much is silver per ounce?", then I hope our silver live chart answered your question!
Image credit: (Mick Baker) rooster