Silver Spot

Silver is a commodity used both as a precious metal and as an industrial metal. Because of its high electrical and thermal conductivity, it is found in electronics, solar panels, solder alloys and medical applications; jewelry, silverware, and bars and coins bought for investment also make up a significant share of demand.

On the international market, the silver price is expressed in US dollars per troy ounce. The silver per ounce value on Lzzo.com is based on COMEX silver futures (SI=F) data obtained via Yahoo Finance. Because the futures price reflects financing and storage costs until the delivery date, it can differ from the spot silver price and from jewelers' or banks' selling prices.

The silver price often moves in the same direction as gold, but its dependence on industrial demand usually makes it more volatile. Global manufacturing activity, solar energy investment, the value of the dollar and interest rate expectations are the main factors affecting the price. The ratio of the gold price to the silver price is also an indicator used to follow the relative value of the two metals.