The current silver spot price is determined by many factors, including but not limited to the state of the economy, futures market, OTC (Over the Counter) market, world events and strength of other currencies. The troy ounce has been the standard measurement for precious metals since the 1800s in the US and much longer in other parts of the world. Silver prices, like the prices of other precious metals such as gold, are subject to volatile price swings. The prices of our silver products are determined by the current spot price of silver, in addition to our premiums for each product. The spot price of silver refers to the price per troy ounce traded on various Commodity Exchanges it is updated every second during market hours.
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