Price of Silver in 2021

2021 was an interesting year for silver bullion. As the global economy continued to see high inflation periods in many countries, savvy investors turned to silver as a safe haven investment against the volatility of fiat currencies and stocks.

This article is dedicated to 2021 Silver Prices and understanding the spot price movements throughout that year.

On our Silver Price page, you can find additional Silver Price history and direct access to a live chart showing the current price of silver.

Silver Prices 2021 Chart

The silver price chart below shows the fiat US dollar price per troy ounce of silver in 2021.

The start of the Reddit Silver Squeeze phenomenon in Q1 2021

In January 2021, a forum on Reddit called “Wall Street Bets,” a retail investing phenomenon took over the financial news and captured the imaginations of many in the investing public. The momentum of their apparent success was piled on by silver investors who called for a “Silver Squeeze” phenomenon by the end of January 2021. This somewhat decentralized online and real-world movement has continued into the following year, 2022, and will likely stretch onwards through this current decade, the 2020s. It is a general call for average investors to buy physical silver in mass. The initial push of new silver bullion buyers and the overall silver demand in Q1 2021 nearly sold out the entire US wholesale and retail dealers supply.

SD Bullion CEO Gives Silver Squeeze Update on Bloomberg TV

The ongoing Silver Squeeze movement has contributed to continued steady physical silver bullion offtake from both COMEX and London warehouses into Q4 2022, as silver bullion investment demand numbers (driven mainly by western silver bullion buyers) are consistently near or sometimes eclipsing record high sales volumes. 

The silver spot price has consistently since fallen from CFTC Rostin Behnam's infamous silver price TAMP down commentary, alluding to increased COMEX silver futures contract margin requirement hikes implemented at the start of February 2021. Leaving many silver investors and onlookers openly wondering if the CFTC is an impartial referee in commodity market price discovery or simply a tool of the elite financial establishment who typically short commodities for high quarterly profits and bonuses. The lowering silver spot price has continued to drive more ounces purchased, and ongoing demand into 2022 is still insatiable for new silver bullion investment grade coins, bars, and rounds.

2021 Silver Prices - Daily Silver Price Fix Data Below

How is the Silver Price Formed?

Silver prices fluctuate according to different factors that, in the long run, include supply and demand, inflation, interest rates, and how strong the US Dollar is performing. Because silver is a physical asset that does not tarnish or corrode, many investors see it as a hedge against fiat currencies devaluation and buy silver as a store of wealth. The same goes for other precious metals, for example, gold and platinum. Then, under the right market conditions, they can liquidate their assets for, hopefully, a profit.

In the short term, however, silver prices move according to ongoing transactions in derivatives markets, such as COMEX and NYMEX. The amount of future contracts and silver ETFs are an important factor influencing live prices of silver, or the so-called silver spot price.

Though not directly, mining companies may also play a significant part in the silver daily price. Silver mining tends to have a large overhead cost, so if the silver spot prices drop too low, the mining companies might reduce operations in order to contain losses. With a shorter supply on the market, prices tend to rise again.

The Silver Market

Silver fix prices represent composite prices from various trading banks and brokerages in the over-the-counter Silver Bullion markets.

Foreign exchange (forex) prices are the most widely quoted in the precious metals market.

Worldwide forex silver markets trade continuously 24 hours a day from Sunday 6:00 PM (Eastern Time) to Friday 5:00 PM (Eastern Time).

The London Bullion Market Association

London Bullion Market Association: LBMA is a wholesale over-the-counter market for selling silver bars and other precious metals, like gold, platinum, and palladium. Their expected auction starts London time locally at around 10:30 AM and 3:00 PM.

Buy Silver from SD Bullion

SD Bullion offers customers the ability to purchase physical precious metal products for asset preservation and prudent allocation purposes, not for mere speculation. Using our online price data, market commentaries, and opinions for speculative purposes is not advised. We are not financial planners nor certified to give you any financial advice whatsoever. Information here is merely for educational purposes.

The viewer acknowledges and agrees that SD Bullion does not guarantee the accuracy, timeliness, or completeness of the price data displayed here. Nor shall it be liable to any individual or entity for delays, inaccuracies, errors, or omissions in this price data or any other damages arising from the viewer's receipt or use of this data.

If you have any questions, please contact our customer support at 1(800)294-8732 or through our live web-chat feature.