Silver futures track the price of the precious and industrial metal, which is used extensively in solar energy panels, electronics, medical devices, and jewelry, while also serving as a store of value and inflation hedge. Prices are influenced by a combination of industrial demand trends — particularly in the renewable energy sector — investor sentiment, gold price movements, and supply from major producers such as Mexico, Peru, and China. Silver tends to be more volatile than gold due to its smaller market size and larger industrial demand component. Prices are quoted in U.S. dollars per troy ounce.
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Silver is priced at $60.58 per troy ounce, gaining 1.95% today with a slim 0.27% advance on the week. The metal has lost 11.75% over the past month and is 16.79% below its year-to-date starting point, while remaining 28.46% higher than one year ago.