Is there an upper limit on the spot price of silver?

This puts a theoretical upper limit on the spot price of silver. Most recently, silver prices have been rallying over $30 per troy ounce and trading in a range of $29 to $33 per ounce, starting May 15th, 2024. This is a 10-year high for the price of silver, and follows gold's historic price movements.

What is silver's spot price?

Silver’s spot price is the current price in the precious metals marketplace at which a raw ounce of silver can be purchased and then sold for immediate delivery.

How is the spot silver price calculated?

Silver is a commodity that trades virtually 24 hours per day across many exchanges such as New York, Chicago, London, Zurich and Hong Kong. The most important exchange, however, when it comes to determining the spot silver price is COMEX. The spot price of silver is calculated using the near term futures contract price.