What drives the market.
Silver demand includes industrial fabrication alongside investment, jewellery and silverware. The Silver Institute’s 2026 survey reports distinct categories, which should not be combined with dealer inventory or local premium data.
What to ask before comparing.
Ask for the fine content per unit and the total quantity being priced. Compare packing, freight, storage minimums and resale terms on the same weight basis.
Primary sources.
- LBMA · About daily auction pricesAccessed 6 November 2026
Defines the four London auctions, the benchmark units, publication delays and administrator. A benchmark is separate from a retail quote.
- The Silver Institute · World Silver Survey 2026April 2026
The Metals Focus survey estimates 2025 industrial silver demand at 657.4 million troy ounces, down 3%.
- CFTC · Questions before buying physical metalsAccessed 6 November 2026
Advises readers to get the charges and buyback price in writing and ask about custody and insurance.
USE THE TOOLS
Compare like with like.
Calculate fine weight and compare a written all-in quote with a reference price you supply.