Current Silver Price

The chart above shows the live silver spot price per troy ounce in Canadian dollars (CAD). Use it to follow price moves before you buy or sell silver coins and bars.

Silver offers many of the same benefits as gold at a much lower price per ounce, so it is easier to buy in small amounts. Unlike gold, most silver is used by industry, so its price reacts both to investor demand and to the state of the economy. That mix makes silver more volatile than gold.

Switch the chart range to see silver over one day, one month, three months, one year, five years or its full available history.

What is the silver spot price?

The spot price is the current market price of one troy ounce (31.1 grams) of pure silver for immediate delivery. Internationally it is quoted in US dollars; the chart on this page shows it in CAD.

Coins and bars cost more than spot because dealers add a premium for minting, distribution and their margin. Sterling silver (92.5%) and other jewellery alloys contain less pure silver, so their metal value per ounce is lower.

What is a troy ounce?

Silver and other precious metals are weighed in troy ounces. One troy ounce equals 31.1035 grams, compared with 28.3495 grams for a standard ounce. One kilogram is about 32.15 troy ounces.

Investment silver coins most often weigh 1 oz, with some issues from 1/10 oz up to several ounces. Bars range from 1 oz to 1 kg, and 100 oz bars are also made.

Who sets the price of silver?

The silver spot price comes from continuous trading, mainly in the London over-the-counter market and on exchanges such as COMEX in New York and the Shanghai Gold Exchange.

The main benchmark is the LBMA Silver Price. It is set once each London business day, at 12:00 London time, in an electronic auction administered by ICE Benchmark Administration.

What drives silver prices?

Silver reacts to the same forces as other commodities, plus a few of its own:

• Supply and demand: Most silver is mined as a by-product of lead, zinc, copper and gold mining, so output does not respond quickly to higher prices. Strikes or stoppages at large mines can tighten supply.
• Recycling: Silver recovered from old jewellery, silverware and electronics adds to supply. When prices are high, more scrap comes to market, which can hold prices back.
• Industry: More than half of annual silver demand comes from industry, according to the Silver Institute. Electronics and solar panels are among the largest users, so economic growth and new technology affect demand.
• Investors: Demand for coins, bars and silver ETFs tends to rise in uncertain times and when inflation worries grow, and to fall when investors prefer other assets.
• The gold price: Gold and silver usually move in the same direction, but silver tends to swing more. The gold/silver ratio shows how many ounces of silver one ounce of gold buys.
• Currencies: Silver is priced in US dollars, so a weaker US dollar usually lifts the price. For Canadian buyers, a fall in the Canadian dollar against the US dollar makes silver more expensive in CAD.

Is now a good time to buy silver?

Nobody can time the market reliably. Many investors hold some silver for the long term to spread risk when shares or bonds lose value.

Traders analyze the chart to pick entry and exit points. Combine the trend with the factors above to decide whether to buy now or wait.

When you are ready to buy, Metals Radar compares silver prices from Canadian bullion dealers, so you can see who offers the best deal.

Will silver prices go up or down?

Silver is volatile, so every forecast is uncertain. Studying past price moves and the factors behind them can help you form your own view. Use the five-year and full-history views on the chart to see the long-term trend in CAD.

Silver price records

For decades the record dated from January 1980, when the London silver price reached USD 49.45 per ounce. In April 2011 silver came close to that level again. In October 2025 it broke above both peaks and set new all-time highs in US dollars. Use the long-term chart to see the latest levels in Canadian dollars.

Investing in silver bullion

Most investors buy physical silver as bars or coins. Options for Canadian investors:

• Silver bars: Usually 99.9% pure or better, made by refiners and mints. Bars carry lower premiums than coins, especially in larger sizes such as 1 kg, which makes them a good fit for buying in bulk. A large bar cannot be sold in parts, so smaller sizes give more flexibility.
• Silver coins: Mostly issued by government mints. They usually cost more over spot than bars but are easy to recognize and to sell one at a time. Popular coins include the Canadian Silver Maple Leaf, the American Silver Eagle, the Australian Silver Kangaroo and the British Silver Britannia.

Find the best silver price

Prices for the same coin or bar vary between dealers. Metals Radar compares silver bars and coins from Canadian bullion dealers and ranks them by final price, so you get more silver for your money.