How do you find the current selling price for silver?


Quick Answer

Websites for precious metal dealers such as JM Bullion and Kitco Metals list the current price of silver, and currency exchange websites such as XE also list silver prices. Some currency websites, such as XE, list the most popular spot price currently trading on currency exchanges, but others, such as Kitco, also list the London Fix price.

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Full Answer

To find the spot price of silver on XE, search for the silver exchange code, "XAG." To find silver prices on Kitco, look for silver price links. Kitco includes current prices under the All Metal Quotes tab and historical prices under the Charts and Data tab.

The silver spot price refers to the price at which silver sells on currency exchanges around the world, including exchanges in New York, London and Hong Kong, explains JM Bullion. The spot price changes throughout the day as traders wrangle for the best deals. Industry analysts consider COMEX in New York the most important exchange.

The London Fix price is a benchmark rate calculated by the London Bullion Market Association in tandem with CME Group and Thomson Reuters, reports the London Bullion Market Association. The London Bullion Market Association uses a daily auction process in which major financial institutions, such as JPMorgan Chase Bank and the Toronto Dominion Bank, input buy and sell orders.

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