Silver Price Today — Per Ounce, Gram and Kilo

The table below breaks today's silver spot price in U.S. dollars into the units used in bullion and jewelry trade, converted live from the per-troy-ounce quote.

Prices in U.S. dollars, based on the bid price of the global spot market. Tael refers to the Hong Kong tael (37.799 g).

The Gold-Silver Ratio Today

The gold-silver ratio is currently 65.5 — one ounce of gold is worth the same as 65.5 ounces of silver.

The gold-silver ratio is the oldest relative-value measure in precious metals: it simply divides the gold price by the silver price. For most of monetary history the ratio was fixed near 15:1; in the modern free-market era it has ranged widely — from below 20 to above 100 — moving as the two metals respond differently to industrial cycles and investment flows. Traders watch the ratio as a gauge of how the two metals are priced relative to each other and to their own history. A rising ratio means gold is outperforming silver; a falling ratio means silver is gaining ground.

The ratio above is calculated live from the same spot quotes shown on this page and on our gold price page.

How the Silver Spot Price Works

The spot price is the market price for one troy ounce of silver for immediate delivery, quoted in U.S. dollars. It is derived from the most actively traded silver futures contract together with over-the-counter dealing, and it moves nearly around the clock as trading follows the sun from New York to London, Zurich, Shanghai and Hong Kong.

A troy ounce is 31.1034768 grams — about 10% heavier than the avoirdupois ounce used for groceries. Physical silver products trade at a premium above spot that covers fabrication and distribution — and because silver is far less valuable per gram than gold, the premium is proportionally larger: minting a one-ounce silver coin costs nearly as much as minting a gold one, but represents a much bigger share of the metal’s value.

Spot Price vs. Futures Price

The spot price is for silver delivered now; a futures price is for silver delivered on a set date in the future, traded on exchanges such as COMEX. The two normally differ by the cost of carrying silver to that date — storage, insurance and interest — which is why futures usually trade slightly above spot (contango). When futures trade below spot (backwardation), it signals unusually strong demand for immediate physical delivery. The price on this page is the spot price; quotes for "silver futures" refer to the most active COMEX contract.

What Moves the Silver Price

Monetary forces: rates, the dollar, and gold. Silver is a monetary metal, and its biggest day-to-day drivers are the same ones that move all precious metals: real interest rates, the U.S. dollar, and investor demand for hard assets. This keeps silver strongly correlated with gold — but silver's market is a fraction of gold's size, so the same flows move it further, and silver routinely outpaces gold's moves in percentage terms, in both directions. The correlation isn't perfect, either: in sharp economic downturns, silver's industrial side can pull it lower even while gold holds firm, as happened in 2008 and March 2020. That volatility is a defining feature of the metal, not an anomaly.

Industrial demand. Unlike gold, more than half of annual silver demand is industrial. Silver is the best electrical conductor of any metal, which makes it essential in solar panels — which grew into roughly a quarter of industrial silver demand over the past decade — as well as electronics, electric vehicles and medical applications. This gives the silver price a second engine gold doesn't have: it responds to the manufacturing cycle and the energy transition, not just to monetary conditions.

Constrained supply. Most newly mined silver is a byproduct of mining for other metals — copper, lead, zinc and gold. That means silver supply responds slowly to silver prices: a higher silver price alone doesn't open silver mines, which can extend deficits when demand runs ahead of supply.

Investment flows. Bars, coins and silver-backed ETFs make up the investment side of demand. Because the silver market is small, shifts in investor appetite — including retail waves like the 2021 "silver squeeze" — can move the price sharply.

To see how much of any move is silver versus currency, the Kitco Global Index (KGX) shows silver's value with the US dollar's influence stripped out.

Silver Value by Purity — Fineness and Sterling

Most silver items aren't pure bullion. Investment silver — bars and coins such as the American Silver Eagle — is .999 fine or better, while most silver jewelry, flatware and household items are sterling silver: 92.5% pure.

Silver purity is expressed as fineness — parts per thousand — and marked with a stamp:

So a piece marked 925 contains silver worth 92.5% of the pure silver price by weight. These are melt values — dealers buying scrap pay below melt, and finished bullion, jewelry and collectible items may trade above their silver content. To value a specific item by weight and purity, use the expanded silver calculator.

Junk Silver: Pre-1965 U.S. Coins

U.S. dimes, quarters and half-dollars minted in 1964 or earlier were struck in 90% silver, making old U.S. coinage one of the most common forms of scrap silver — often called "junk silver," meaning coins valued for their metal content rather than as collectibles. Half-dollars from 1965–1970 were 40% silver. A face-value dollar of pre-1965 coins contains about 0.715 troy ounces of silver, so its melt value is roughly 0.715 × the spot price. Coins in unusually good condition or from scarce years can carry collector value above melt — potentially collectible coins should be evaluated before being sold for melt value alone.

Silver Price History and All-Time High

Silver's current all-time high in U.S. dollars is $121.67 per ounce, set on January 29, 2026. The metal's historic peaks tell the story of its volatility: silver spiked to nearly $50 in January 1980 during the Hunt brothers episode, and approached $50 again in April 2011 — then spent years far below those levels before the current era's highs. Adjusted for inflation, the 1980 peak remained the real record for decades — and it still stands today.

You can explore the complete record with the historical charts above.

About Silver

Silver has served as money for as long as gold — the word for "silver" and "money" is the same in dozens of languages — and it shares gold’s resistance to corrosion, though it tarnishes superficially through contact with sulfur in the air.

What sets silver apart is its usefulness: it is the most electrically and thermally conductive metal known, and the most reflective. Roughly half of the silver consumed each year goes into industry — solar panels, electronics, batteries, brazing alloys and medicine — with the remainder split among jewelry, silverware, and investment bars and coins.

Silver Market News & Analysis

The silver price never moves without a reason. Kitco News — the world's largest newsroom dedicated to metals and mining — reports on the forces behind every move, from Fed decisions and industrial demand to mine supply and investment flows, with market updates published throughout each trading day. Beyond the headlines, Kitco Opinion carries daily analysis and price forecasts from veteran traders, fund managers and analysts.

Kitco has provided live silver prices and market coverage since 1977. You can also follow the coverage on the Kitco News YouTube channel, one of the most-watched sources of precious metals interviews and analysis, or on X @KitcoNewsNOW for market updates as they happen.

Silver Price FAQ

What is the price of silver today?

As of September 9, 2026, 5:31 p.m. ET, the silver price is $67.16 per troy ounce ($2.16 per gram). The live chart on this page updates continuously through global trading hours.

How much is 1 oz of silver worth right now?

One troy ounce of silver is currently worth $67.16, based on the live global spot market bid price.

Why is silver more volatile than gold?

The silver market is far smaller than gold's, so the same investment flows move the price further in percentage terms. Silver also carries heavy industrial demand, adding a second source of price swings gold doesn't have.

What is the gold-silver ratio?

It is the gold price divided by the silver price — currently 65.5. Traders use it to gauge how the two metals are valued relative to each other and to their own history. See the Gold-Silver Ratio section above.

How much is sterling silver worth?

Sterling silver is 92.5% pure, so its melt value is 92.5% of the spot price by weight — currently about $2.00 per gram. Finished sterling pieces may be worth more than melt as jewelry or antiques.

Are old U.S. coins worth more than face value?

Dimes, quarters and half-dollars from 1964 or earlier are 90% silver and are typically worth many times face value in metal content alone. See the Junk Silver section above — and have potentially collectible coins appraised before selling them for melt.

What purity is investment silver?

Investment-grade silver bars and coins are typically 99.9% pure (999 fine) or better. Sterling jewelry and flatware are 92.5%.

Can I see the silver price in other currencies?

Yes. The currency selector on this page converts the live quote, and a dedicated page tracks the silver price in Canadian dollars.