What silver is used for
Silver is a precious metal and an industrial one. It conducts electricity and heat better than any other metal, so more than half of all silver goes into products rather than vaults. In 2025, world demand came to about 1.13 billion ounces.
- Industry657 Moz (58%)Electronics and electrical parts, power grids, cars and data centers. Solar panels alone took 187 Moz, though makers are using less silver in each cell.
- Coins and bars218 Moz (19%)Up 14% from 2024, the first rise since 2022.
- Jewelry, silverware and other usesabout 256 Moz (23%)Jewelry fell 8% and silverware 21% as prices rose.
Millions of troy ounces (Moz) in 2025, as a share of total demand of about 1,131 Moz. The last row is what remains of total demand after the first two. Sources: The Silver Institute, World Silver Survey 2026, and reporting on it.
Demand outran supply for the fifth year in a row in 2025, according to the Silver Institute.
Why people buy silver
- A lower price per ounce. Silver costs a small fraction of gold per ounce, so a whole ounce is within reach, and it’s easy to add a little at a time.
- Real industrial demand. Most silver is used up in products, which ties its price to manufacturing as well as to savers.
- It isn’t anyone’s promise. Like gold, a round or bar you hold doesn’t depend on a bank or broker.
- Widely recognized sizes. One-ounce rounds and bars are among the easiest pieces of bullion to sell.
Things to weigh first
- It swings harder than gold. Silver’s price tends to move more sharply in both directions.
- It takes up space. A given amount of money buys far more weight and bulk in silver than in gold, which matters for storage and shipping.
- Buying and selling has a cost. Bullion sells for more than spot and dealers buy it back for less.
- It pays no income. Any return comes from the price rising.
- Taxes. In the US, gains on physical silver are generally taxed as collectibles, at a top federal rate of 28% for metal held more than a year. Ask a tax adviser about your own situation.
Questions about the silver price
What is the spot price of silver?
It’s the price of one troy ounce of silver for immediate delivery in the wholesale market, quoted in US dollars. Rounds and bars sell for more than spot to cover minting, shipping and dealing.
Is silver a better buy than gold?
Neither is better in general. Silver is cheaper per ounce and more tied to industry, so it tends to swing harder. Gold is steadier and far more compact. Many buyers hold some of each.
What do bid and ask mean?
The bid is the highest price wholesale buyers are offering right now. The ask is the lowest price sellers will accept. The gap between them is the spread. The large price on this page is the mid-market price, halfway between the two.
How many grams are in a troy ounce?
A troy ounce is 31.1035 grams, and a kilo is 32.15 troy ounces. Precious metals are weighed in troy ounces, which are about 10% heavier than the 28.35-gram ounce used for food.
When does the market trade?
Almost around the clock on weekdays, from Sunday evening to Friday evening US Eastern time, as trading passes between Asia, London and New York. Prices stand still over the weekend, and this page says when markets are closed.
How often does this page update?
Every 15 seconds while you have it open. The chart is drawn from prices EA Bullion has recorded itself, so the longer ranges fill in over time.
Sources
- The Silver Institute, Elevated lease rates, regional liquidity tightness, and robust investor interest resulted in record silver prices in 2025, World Silver Survey 2026 release, April 2026.
- pv magazine USA, Silver demand from PV industry expected to drop 19% this year, April 2026.
- Mining Visuals, Silver coin and bar demand surges 14% amid global market tightness, sponsored by The Silver Institute.
- Kitco, A tenth of the silver in electronics is heading to one buyer, August 2026.
- IRS, Topic no. 409: Capital gains and losses.
This page is general information, not investment, tax or legal advice. Spot prices are indicative wholesale prices. Products cost more than spot, and the price you pay is shown in the shop and fixed when you lock your order.