Silver futures are used both as a way for silver producers and market makers to hedge their products against fluctuations in the market, and as a way for speculators to make money off of those same movements in the market.Ī precious metals futures contract is a legally binding agreement for delivery of a metal in the future at an agreed-upon price. The silver futures market is one of a number of commodity futures, wherein contracts are entered into, agreeing to buy or sell silver at a certain price at a specified future date. For the high and low values, we are showing the lowest bid and the highest ask of the day. Whenever bullion dealers in any of these cities are active, we indicate this on our website with the message “Spot Market is Open”. New York, London, Sydney, Hong Kong, Tokyo, and Zurich are where most of the trading activity takes place. The spot silver market is trading very close to 24 hours a day as there is almost always a location somewhere in the world that is actively taking orders for silver transactions. Transactions for bullion coins are almost always priced using the spot price as a basis. The spot silver price refers to the price of silver for immediate delivery. Silver is sometimes referred to as monetary metals as it has historical uses as currencies and is seen as a store of value however, silver has a significant industrial component, equivalent to almost half of its markets, because it is less reactive, good conductors and highly malleable. There are five main precious metals openly traded on various exchanges, Silver is the second largest market in this specific sector. This is a classification of specific metals that are considered rare and have a higher economic value compared to other metals. Silver Price Guide WHAT MAKES SILVER A PRECIOUS METAL?

Silver & Black by Tyler May