Sterling Silver and Gold are defined as commodities and are traded in a similar way to stocks and shares, the prices can go up and down. On a daily basis Silver is a much more volatile commodity than gold so the fluctuations can be much sharper on this metal depending on demand. Due to the current pandemic the cost of these precious metals has become less stable and in recent months have increased in price.
Silver can only be traded in US dollars so when we purchase the silver on the London Metal Exchange it is bought in dollars and converted to pound sterling to give the trading price for each day. The chart below shows the current price of silver today, you can also click on the tabs above the chart to get the previous week, month or yearly costs for silver.