Silver price

The current rate of the silver price is in flux 5 days a week and depends on all the global transactions taking place around silver. The silver price is influenced by sellers and buyers of silver on the global market. Sellers ‘let’ the asking price and buyers ‘bid’ the bidding price. The difference between these two prices is called the middle price. The average of all the middle prices together, forms the final price.
 
You can set the chart to your own requirements. You can choose the price per kilo or per troy ounce. You can then view the price of silver, gold and platinum. You can also choose the gold/silver ratio option. If you wish, you can select a period, ranging from a week to a few years.

Current silver price

The precious metal silver has many industrial applications, but is particularly used in the electronics industry. This is because silver is an excellent conductor of heat and electricity. Another special property of silver is that it reflects light. It is therefore often used in mirrors. Furthermore, silver can be found in consumer goods such as jewellery, cutlery, payment coins and smartphones.
The silver price, just like the gold price, is influenced by various factors. Not only supply and demand are important in this. The dollar exchange rate, geopolitical influences, the global economy and deflation are also factors in determining the level of the silver price.
 
Globally, most gold and silver transactions take place at the COMEX in New York and in London at the London Bullion Market Association (LBMA).
 

Silver price per gram

The silver price per gram can be calculated using the current silver price, for example by dividing the silver price per kilo by a thousand. Do you want to convert your silver weighing in grams to troy ounces or vice versa? Then the following formulas are handy to use:
 

• Weight in grams: Weight troy ounce / 0.032151
• Weight in troy ounce: Weight in grams x 0.032151

Silver price per troy ounce

The international silver price is always shown in two weights, namely 1 troy ounce and 1 kilo. A troy ounce is internationally considered the official unit of mass used when weighing precious metals. Most silver coins therefore have a weight of 1 troy ounce (31.103 grams) or a multiple thereof. The most popular investment coins are minted in 1 troy ounce.
 

Silver price per kilo

Besides per troy ounce, the silver price worldwide is also displayed per 1 kilo of silver. While most silver coins are minted in 1 troy ounce or multiples thereof, silver bars are usually minted in 500 grams, 1 kilo or 5 kilos. The spot price of these bars is easy to calculate by assuming the silver price of 1 kilo.
 

Historical silver price

The silver price has historically been volatile, with large fluctuations in the price. The price has been influenced by a number of factors, including silver supply and demand, economic conditions and political events.
 
Silver's all-time high, or the highest price silver has ever recorded, stands at €1,057 per kilo. This was in April 2011 right after the credit crisis. Today, the price hovers around €700.
 
Of course, the silver price from the past is no guarantee for the future, but it does give an idea of how the silver price is developing.
 

Silver price over the past 10 years

If we look at the silver price on 1 January 2013, it quoted EUR 738 per kilo at the time. In the years that followed, the silver price fell sharply, with the biggest drop in 2013 of almost 40%. Since 2020, the silver price has been on the rise again. In 2020, demand for silver increased by 38%, while there had been a physical silver shortage for three years in a row. On 1 January 2023, the silver price recorded EUR 721 per kilo and in the year 2023, the lowest recorded silver price was +/- EUR 610 per kilo and the highest recorded silver price was EUR +/- EUR 750 per kilo.
 
Take a look at the developments of the silver price over the past 10 years in the chart below.

Source: Silverprice.org
 

Silver price last 20 years

If we look at the silver price over the past 20 years, we see that it was around EUR 150 per kilo at the beginning of 2004. In the following years, the silver price was on the rise, partly due to the credit crisis that emerged in the summer of 2007. In the years following the credit crisis, the silver price took a big dive, with the price of silver on the rise again since the mid-2020s.
 
The course of the silver price over the past 20 years can be seen in the chart below.
 

source: Silverprice.org
 

Silver price last 50 years

Looking at the silver price over the past 50 years, we see two notable peak moments in the silver price. The first is in 1980 and the second in 2011. The first peak can be explained by a combination of factors, including rising inflation, the US economic recession and political unrest in the Middle East. The second peak is just after the global economic and financial crisis. Besides these peak moments, the price has been very volatile over the past year. There were periods of rising prices, but also of falling prices.
 
The chart below shows the course of the silver price over the past 50 years.

Source: Silverprice.org

Advantages over gold

One advantage of silver over gold is in its purchase price, among other things. This is because the silver price is a lot lower than the gold price and is therefore more accessible to individuals who want to invest in smaller proportions. These individuals choose to invest in precious metals because they usually want to secure assets. Silver can be up to 72 times cheaper than gold, which has happened several times in the past. As described earlier, silver is widely used in modern applications. The demand for smartphones and solar panels, among others, is rising worldwide, which also increases the demand for and price of silver. Investing in silver can therefore be very attractive.

Disclaimer: This article is not intended as professional investment advice or a recommendation to make certain investments.