Silver is a widely fluctuating commodity whose market value can be difficult to track. At least small shifts in the value of an ounce--or any amount--of silver take place each day. Potential investors should have several sources that update continuously to track the value of the commodity. Fortunately, many trustworthy sources are available.
Things You'll Need
- Computer with Internet access
Visit dendritics.com if you already own silver and are trying to determine its value. This site has a tool in which you enter how much silver you have in weight, then its current market value is determined. Calculations can be made in many forms of common worldwide currency.
Visit Kitco, a trusted and established commodities tracker, to see the current price that silver is selling for worldwide. Look at the prices of all the precious metals, then scroll to the bottom of the page. Click on charts, then on silver to see a 24-hour "Spot Silver" chart. This will show you what silver has been worth over the last 24 hours. Usually there is quite a fluctuation over that time, sometimes amounting to a 10-cent change, sometimes a dollar or more. This chart will give you an idea of how wild or calm the silver market has been in the last day and night of trading.
Check prices at metalprices.com, This useful site will give you the previous day's silver price, plus many charts and graphs, as well as articles to steer you in the right direction. For a small subscription fee, you can get up-to-the-minute prices on silver.
Head to thebulliondesk.com to see not only current prices, updated continuously, but also in-depth analysis of the metals market. This one-stop site tracks every nuance of the current metals market without any sort of bias.
Tips & Warnings
- Whether you have a bagful of old silver coins that are only worth their meltdown value or you are looking to invest some private funds into buying silver low and selling high, there are tools on the Internet that can aid your efforts.
- Keep in mind that all investments of this type come with risk. It is entirely possible to buy $10,000 worth of silver and see the value on that amount shrink to $8,000 the following day. In general, precious metals are seen as a "safer" type of investment because their value will never go to zero the way a business investment might. However, caution is advised in silver investment as with any other market investment.
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