Live Silver Price Chart
The interactive chart below shows the silver spot price (XAG/USD) in real-time. Use the timeframe buttons to view silver price movements across different periods, from intraday to multi-year trends.
Latest Silver News & Analysis
Stay informed with our latest coverage of silver markets, price movements, and expert analysis.
How to Invest in Silver
Investors have multiple options for gaining exposure to silver prices, each with different risk profiles, costs, and characteristics.
Physical Silver
Silver bullion (bars and coins) offers direct ownership of the physical metal. Physical silver comes in various forms, including bars from 1 oz to 1,000 oz, government-minted coins such as American Silver Eagles, Canadian Maple Leafs, and Austrian Philharmonics, as well as “junk silver” (pre-1965 US coins containing 90% silver). Physical silver requires secure storage and carries higher dealer premiums over spot price compared to gold, especially for smaller denominations.
Silver ETFs
Silver exchange-traded funds provide convenient exposure to silver prices without the need for physical storage.
iShares Silver Trust
The largest and most liquid silver ETF, holding physical silver bullion. Over 450 million ounces of silver in trust. Expense ratio 0.50%.
abrdn Physical Silver Shares
Physically-backed silver ETF with silver stored in London vaults. Lower expense ratio of 0.30% makes it a cost-effective alternative.
Sprott Physical Silver Trust
Closed-end trust holding allocated silver stored at the Royal Canadian Mint. Offers physical redemption for large holders.
iShares Silver Trust Micro (SILV)
Micro-sized silver ETF designed for smaller investors. Lower share price provides an accessible entry point to silver markets.
Silver Futures
Silver futures trade on COMEX with contract sizes of 5,000 ounces (full contract) or 1,000 ounces (mini contract, symbol QI). Micro silver futures (1,000 oz) trade under the symbol SIL. Futures offer leverage but require understanding of margin requirements, contract specifications, and rollover procedures. They are primarily used by institutional traders and experienced speculators.
Silver Mining Stocks
Silver miners offer leveraged exposure to silver prices — when silver rises, mining company profits typically increase at a faster rate.
First Majestic Silver
One of the purest silver plays, focused exclusively on silver mining in Mexico. Reported AISC of approximately $21/oz in late 2025.
Pan American Silver
One of the world’s largest primary silver producers, operating mines across the Americas from Canada to Argentina.
Wheaton Precious Metals
A streaming company that buys silver (and gold) at predetermined prices. Lower risk profile than traditional miners.
Hecla Mining
The largest silver producer in the United States, with operations in Idaho, Alaska, and Quebec. Also produces gold.
Many silver miners also produce gold, zinc, and lead, so they are not pure silver plays. Other notable names include Coeur Mining (CDE), MAG Silver (MAG), and SilverCrest Metals (SIL).
Historical Silver Prices
Understanding silver price history provides context for current valuations and reveals the metal’s characteristic volatility. Silver gained approximately 147% in 2025, its strongest annual performance since 1979, before surging to a new all-time high of $121.67 in January 2026.
Silver Price History Chart
Key Price Milestones
| Date | Event | Price |
|---|---|---|
| January 2026 | All-time high before “Warsh Shock” crash | $121.67 |
| December 2025 | Year-end record high | $83.97 |
| October 2025 | First break above $50 — 45-year record broken | $54.46 |
| April 2025 | Tariff-driven sell-off low | $29.58 |
| October 2024 | Multi-year high above $34 | $34.85 |
| April 2024 | Breakout above $30 level | $32.50 |
| February 2021 | Reddit/WallStreetBets squeeze attempt | $30.35 |
| August 2020 | COVID recovery high | $29.85 |
| March 2020 | COVID crash low | $11.77 |
| April 2011 | Post-crisis peak (matched 1980 high) | $49.80 |
| January 1980 | Hunt Brothers corner attempt | $49.45 |
| March 2001 | Multi-decade low | $4.05 |
Silver surged 147% in 2025, breaking above the $50 ceiling that had held since 1980. The rally was driven by a convergence of structural supply deficits, explosive industrial demand from solar and AI sectors, safe-haven buying, and tightening London vault inventories. In January 2026, silver spiked to $121.67 before the “Warsh Shock” — the nomination of a hawkish Fed Chair — triggered a 43% single-day crash. Prices have since stabilized around the $80-85 range.
See also:
Key Silver Statistics
What Drives the Silver Price
- Industrial Demand (Solar, AI, EVs) — Silver’s unmatched electrical and thermal conductivity makes it essential for photovoltaic cells, AI data centers, semiconductors, and electric vehicles. Solar alone consumed over 25% of global silver supply in 2024, and demand continues to accelerate.
- US Federal Reserve Policy & Interest Rates — Lower real interest rates reduce the opportunity cost of holding non-yielding assets like silver. Rate cut expectations in 2025-2026 have been a powerful tailwind for precious metals.
- US Dollar Strength — Silver is priced in USD, so a weaker dollar makes silver cheaper for international buyers, boosting demand. The dollar declined approximately 10% in 2025, supporting silver’s rally.
- Geopolitical Tensions & Safe-Haven Demand — Trade wars, tariff uncertainty, geopolitical conflicts, and concerns about US fiscal policy drive investors toward precious metals as a store of value.
- Physical Supply Deficits & London Vault Inventories — The silver market has been in structural deficit for six consecutive years. London vault inventories fell by a third from 2022 to 2025, creating a physical squeeze that briefly pushed overnight lease rates to 200% annualized in October 2025.
- Investment Demand (ETFs, Coins & Bars) — ETF inflows have been a dominant driver since late 2024. Global ETP holdings stand at an estimated 1.31 billion ounces. Retail demand for coins and bars has also surged, particularly in India and China.
- Mine Production & Recycling Supply — Global silver mine production has been declining for over a decade, especially in Central and South America. Recycling is projected to surpass 200 Moz in 2026 for the first time since 2012, partially offsetting the deficit.
- Gold Price Correlation & Gold:Silver Ratio — Silver tends to follow gold’s direction but with higher beta (greater percentage moves). The gold:silver ratio — currently around 60 — serves as a key valuation metric. A falling ratio signals silver outperformance relative to gold.
Silver vs Gold — Comparison
| Feature | Silver (XAG) | Gold (XAU) |
|---|---|---|
| Price per Ounce (Feb 2026) | ~$84 | ~$5,100 |
| 2025 Annual Return | +147% | +65% |
| All-Time High | $121.67 (Jan 2026) | $5,595 (Jan 2026) |
| Industrial Use Share | ~55% of demand | <10% of demand |
| Primary Investment Vehicle | SLV ETF | GLD ETF |
| Volatility Profile | Higher — both up and down | Lower, steadier trends |
| Storage Cost (relative) | Higher per dollar invested | Lower per dollar invested |
| Central Bank Holdings | Minimal | ~36,200 tonnes globally |
