Live silver price in GBP

Here is the live price chart for silver in British Pound Sterling (GBP). Select your preferred weight unit to track the trends in silver prices.

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Performance of the price of silver in the past 24h in GBP

Last update: Jul 17, 2024, 6:21 PM

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Silver price today by weight and carats per gram in GBP

Silver prices can fluctuate based on different economic factors and are often quoted in various weights and purity levels.

Last update: Jul 17, 2024, 6:22 PM

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The historical performance of the silver price in GBP

Our comprehensive silver price chart details the history of silver prices in EUR. You'll observe significant fluctuations over time, though the general historic trend has seen silver increasing in value.

Last update: Jul 17, 2024, 6:21 PM

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Silver price today per gram by currency

The price of silver varies depending on whether you're looking at it in US dollar, euro, British pound, or Swiss franc. This table allows you to track the gold prices in each of these currencies and more, as well as their daily performance.

Last update: Jul 17, 2024, 6:22 PM

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Why buy silver?

Silver has broad industrial use and is cherished for its durability and aesthetic beauty. It’s also cheaper than gold, which means it can be more affordable for beginner investors.

  • Because the demand for industrial silver is strong and the supply is limited, this has led to a marked rise in the silver price in GBP over time.
  • However, this also means the silver price in the UK can change rapidly in response to different economic events.
  • Nevertheless, diversifying your investment portfolio with precious metals, like silver, could still help you hedge against volatility.

What are the current trends in silver prices in GBP?

Like other precious metals, the price of silver can be quite volatile. Its price movements are dictated by supply and demand, as well as trends in the global economy and exchange rates.

Industrial demand also plays a key role in the silver price in GBP. That means during an economic slowdown, the price of silver could fall as industrial demand for this precious metal wanes. But if the value of stocks and shares falls, silver demand for investors could rise, potentially pushing up its price.

The evolution of the silver price in GBP in grams

The price of silver in GBP has increased a lot over time, although it has been extremely volatile, like silver in USD and other currencies.

The silver price in the UK rose from just £0.02 per gram in the early 1970s to nearly £0.60 per gram around 1980, a benchmark that wasn't succeeded until the late 2000s recession. It reached a record high of £0.85 per gram in 2011, when the UK economy experienced sluggish growth, before falling to around £0.30 per gram in 2016 and rising again to over £0.60 per gram by 2020.

The source and demand for silver

The top silver-producing countries in the world are Mexico, China and Peru, which collectively contribute to roughly half of the world's silver production. Silver has more industrial uses than gold, which means its price is more influenced by industrial trends. It is an important metal for everything from jewelry and coins to phones and solvents.

How do UK-specific economic indicators impact silver prices?

The silver price in GBP is influenced by various economic indicators, such as UK inflation rates, inflation and currency fluctuations. As mentioned, because of its heavy industrial demand for silver means, these economic indicators can arguably play a more important role in dictating the price of silver than its demand from investors.

The important role of the USD-GBP exchange rate on the silver price in the UK

Because of the dominance of the US economy, most silver is denominated in USD. This means the price of silver in GBP is heavily influenced by what happens to USD.

  • If USD weakens against GBP, this can be good news for UK investors, as the silver price in GBP falls. This could trigger a rise in demand for silver around the world, potentially raising its price.
  • However, if USD strengthens, silver becomes more expensive for investors in the UK and around. This could reduce the global demand for and the price of silver.

Back in 1979-1980, the UK silver price rose and fell sharply due to an event known as Silver Thursday, in which three brothers attempted to corner (take control of) the global silver price. If you have some free time, read more about it here in this in-depth account from the LBMA (the London Bullion Market Association, representing the renowned London bullion market).

Why is silver a good diversification?

Silver can help you diversify your investments and reduce your exposure to market volatility. Like other precious metals, the silver price in the UK often moves in the opposite direction of stocks and shares, which means it may be a suitable hedge against market downturns.

If you’re just getting started with investing, it may be unwise to put all your eggs in one basket.

  • That's because if you invest in one sector, asset class or region where your investments tend to move in the same direction, you risk incurring significant losses if those price movements aren't favourable.
  • However, diversifying your portfolio with a mixture of precious metals, other commodities, stocks, shares, bonds and cash - in different regions and sectors - can help you cut your risks.

How can you buy silver in GBP?

First of all, check the latest silver price in GBP on our website.

You can start investing in silver by purchasing it outright, typically as bars or coins, which is the most direct way to own silver. Alternatively, you can purchase silver ETFs or futures contracts, which enable you to gain some exposure to this precious metal in your portfolio through silver trading.

Our collection of silver coins and bars range from affordable 100 g silver bars to intricately decorated minted bullions like the iconic Lady Fortuna by PAMP. All our silver bars and coins are investment grade silver, produced by world-renowned manufacturers.

  • We can deliver your silver bars or coins to your home or keep them securely stored in our Swiss secure vaults.
  • All our silver products are exempt from VAT to help you save on your initial investment (these products must be stored in our Swiss facility).
  • For investors purchasing silver in GBP, this would represent a saving of 20%.

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Frequently asked questions

Read the most frequently asked questions from savers and investors on GOLD AVENUE and on how to buy gold, silver, and precious metals.

How much is 1 gram of silver worth?

Internationally, the silver price, which is set by the LBMA London (London Bullion Market Association), has a significant influence on the value of fine silver. The silver price is determined daily at 12:00 noon as part of an auction. It is important to note that the price of silver is usually quoted in US dollars per troy ounce. To determine the CHF silver price for 1 gram, the weight and the dollar-franc exchange rate must be taken into account. With GOLD AVENUE this conversion takes place automatically.

How do you calculate the value of 1 gram of silver?

At the international level, the metal value of silver is expressed in US dollars per troy ounce, which means that different weight units must be taken into account when converting. As an example, the current price of silver is $23.74 per troy ounce and the USD to CHF exchange rate is 0.88 (as of March 5, 2024). Since 1 gram of silver is approximately 0.0321507 troy ounces, the metal value of 1 gram of silver is approximately 0.67 CHF (23.74 x 0.0321507 x 0.88).

Does the price of silver change?

The price of silver does indeed change regularly. It is set each day through an independent auction process managed by the London Bullion Market Association (LBMA). Moreover, factors such as market demand, geopolitical events, and economic indicators can all influence silver price fluctuations. For investors, staying informed with the latest news and trends is important. Monitoring the current silver prices and understanding the market forces at play can help in making more informed investment decisions.

What affects the value of silver?

The value of silver is influenced by numerous factors, such as market supply and industrial demand, interest rates, geopolitical uncertainties, inflation expectations and the strength of the US dollar. Due to possible interactions between these factors, it is advisable for investors to follow the latest news closely.

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