Silver Price Chart
Silver is a precious metal with a wide range of uses, not only in jewelry but also in industry. The price of silver constantly fluctuates and is influenced by a variety of factors. If you're following investment markets, you likely know that this metal can be an interesting alternative to gold.
Silver Price per Troy Ounce
Silver is traded in units called troy ounces (oz t), which is the standard measurement unit for precious metals. One troy ounce of silver is approximately 31.1035 grams. Therefore, when you monitor the price of silver on the market, it’s always quoted per troy ounce.
Main Factors Affecting the Price of Silver
1️⃣ Supply and demand – silver mining takes place mainly in Mexico, Peru, and China. If mining is restricted or demand increases (e.g., in industry or from investors), the price rises.
2️⃣ Economic situation – in times of economic uncertainty, investors seek safe havens for their money. Both gold and silver tend to strengthen in such periods.
3️⃣ Industrial use – silver is used in electronics, medicine, and solar energy. Growth in these industries can lead to increased demand.
4️⃣ Inflation and monetary policy – if the value of money decreases, investors often look for alternatives in precious metals.
Current Silver Price Chart
The price of silver changes daily and is influenced by global markets, geopolitical situations, and macroeconomic factors. It is most commonly quoted in dollars per troy ounce.