The base price for silver is known as the spot price. The price talks about unfabricated silver, i.e. without the premium. Premiums are a markup for dealer fees, distribution, fabrication, and any collector or numismatic value. As the spot price of silver is taken (snapshots) at different moments of the day, the silver index varies throughout the day.
The United States, Hong Kong, London, Republic National Bank, New York City, etc., are some of the elements that can influence the silver bullion price markets. In most cases, the current price of silver (per ounce) will be based on figures from the COMEX in NYC.
How Much Does Silver For?
Here are the latest statistics (keep in mind that prices can fluctuate):
As of November 2018.
Factors that Determine Silver Prices
The price of silver is always moving. In fact, there are an unlimited number of elements that can influence silver prices today. The most common factors include:
That's why it is recommended that you create alerts if you are closely monitoring silver prices.
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