What it is
A white metal that is both precious and industrial. It is held as coins, bars and jewellery, and it is used in electronics, solar panels and medicine because it conducts electricity better than any other metal. Much of it is a by-product of mining lead, zinc, copper and gold.
How it is usually quoted
US dollars per troy ounce.
This is the customary unit of the reference market. Other markets for the same commodity may use another unit or currency, and an exchange can change a contract’s terms: its own rulebook is the authority.
Where the reference contract trades
The London over-the-counter market, CME (COMEX) and the Shanghai Futures Exchange.
Named for orientation only. Naming an exchange or a market here does not mean that GIO4X gives access to it.
What commonly moves it
- The price of gold, interest rates and the US dollar
- Industrial demand, including from solar panels and electronics
- The output of the base-metal mines that yield it as a by-product
- Buying and selling by investors
These are the things people who follow this market usually watch. They explain how the market works; they do not say what the price will do next.
Where it comes from
Mexico is the largest producer, followed by China, Peru, Chile, Poland, Australia and Bolivia.
The order of producers changes from year to year, so no quantities or shares are given here.
At GIO4X
Silver is one of the 7 commodities GIO4X lists as instruments. It appears as XAG/USD (Silver / US Dollar), in the Metals class. Spot silver priced in US dollars per troy ounce. Silver has both monetary and industrial uses, and typically moves more than gold in percentage terms.
The contract and its published conditions are set out on the instrument page, where they are labelled as indicative. They are not repeated here.
XAG/USD instrument pageMetals at GIO4XContract specifications
Words worth knowing
Tools for the GIO4X instrument
The calculators work on the figures you enter. They apply to XAG/USD as GIO4X lists it, not to the exchange contracts named above.
A reference page. Educational information, not investment advice or a recommendation to trade. It gives no price and no forecast.