Spot silver prices can and do change throughout the day
Monex monitors marketplace activities and adjusts its Ask, Bid and Spot prices as much as 50 times or more throughout its 11-hour trading day. In active market conditions when spot silver prices can become extremely volatile, prices can change almost continuously, moving up and/or down many times in a single minute, and for hours on end. The latest spot prices are listed here on the Live Prices page. Using the Monex Bullion Investor smartphone app. They may also be obtained by calling a Monex Account Representative at the phone number listed at the top of this page.
What factors influence the price of silver?
As a commodity, the price of silver can and does fluctuate from day to day, and in fact, from minute to minute throughout the day. The current price of silver is the result of all buyers and sellers across the globe meeting at transaction prices, according to combined supply and demand forces. Fundamentally, the availability of supplies of silver bullion – from mines, scrap recovery, government stockpile disposals and investor liquidations – versus demand – from industrial uses, jewelry/silverware fabrication and investor acquisitions – are the driving force behind silver’s worldwide marketplace prices.
Today, the factors most notably influencing silver prices are (a) the unparalleled degree of geopolitical uncertainty making silver an exceptional investment alternative; (b) ever-increasing industrial uses due to silver’s unique reflective and conductive properties, especially in batteries and electronics; (c) growth in demand for medical applications using silver as a more organic antibiotic agent for germicide and disinfectant purposes; and (d) the loss in silver demand from the declining film photography sector. However significant, declining photography demand is replaced, to an extent, by incredible demand from electronics as film’s replacement. One sector with exceptional potential is the ‘photovoltaic’ necessity of silver in solar panels, which could see phenomenal global growth.
What is the main difference between bid, ask and spot prices?
Bullion bars and coins are sold at Monex Ask prices, which are subject to a buy charge. An “Ask” price is a dealer quote inviting an investor to buy, and “Bid” is a quote at which the investor would sell. The difference that the Ask price is greater than the Bid price is the dealer’s bid-ask spreadmon industry practice is to reference a “Spot” price, which benchmark relates to a per-ounce price of the current (“Spot”) month.
In order to reference one price of silver, the industry standard is to use the price between bullion buy/sell prices where traders are not inclined to be buyers or sellers, suggesting a fair nominal price reference commonly referred to as the spot price. As far as different forms of physical silver, certain lots may be more or sometimes less desirable than the standard industrial grade .999 fine 1,000-ounce silver bars, resulting in Ask and Bid prices that can be much more or far less than the nominal spot price. Monex lists its spot, ask and bid prices on the Live Prices page and on individual product pages, and updates these prices throughout its 11-hour trading day.
What is the spot price of silver?
The term “spot” represents present settlement and delivery terms, rather than a forward term contract and associated pricemon practice of the metals industry is to publish a benchmark market value, which most universally is a particular day’s final settlement price per ounce of the New York commodity futures exchange (NYMEX) “spot” month. At other times of the day, metals dealers assess world markets to infer what they believe to be a benchmark spot silver price. Monex publishes a spot silver price along with quoted ask and bid prices of its silver products, all of which have been an industry-respected reference. If a dealer has two different spot prices, that suggests buying or selling spot bullion at ask and bid prices, and is not a precious metals industry commonly-used benchmark value for price comparison purposes. The Monex live spot silver price for its 11-hour trading day can be found here at our Live Prices page and by using the Monex Bullion Investor smartphone app available for both Apple and Android smartphones.