Benchmark: Loco London spot (LBMA). The same tonne prices differently by origin — freight, quality, sanctions and policy set the differential. Deep dive →
| Origin | Basis | Price | vs benchmark | Market note |
|---|---|---|---|---|
🌐 Loco London Global · global reference | LBMA spot | 41.20 | Benchmark | The wholesale silver reference |
🇮🇳 India (landed) India · duty + investment | Duty-paid landed | 42.10 | +0.900 (+2.2%)stable | Duty plus heavy investment/industrial demand |
🇨🇳 Shanghai (SGE) China · solar demand | SGE premium | 41.80 | +0.600 (+1.5%)stable | China premium — solar paste pulls hard |
🇺🇸 COMEX (EFP) USA · futures basis | EFP to spot | 41.55 | +0.350 (+0.8%)stable | London-NY basis |
🇲🇽 Mine doré (payable) Mexico/Peru · mine supply | FOB doré payable | 40.80 | -0.400 (-1%)stable | Doré payables under refined spot |
Differentials are indicative desk assessments over the live benchmark — 90-day spread trend shown per origin.
Track physical flows on the live vessel map →Indicative term structure · Contango
Converted from 41.20 USD/oz · indicative FX
Silver is traded in the precious metals segment, with price discovery referenced against COMEX. The chart above shows the trailing indicative price path. Physical parcels of Silver can be sourced or placed through the Off Market desk, listed openly on the Marketplace, or intermediated by a specialist broker.
Continued official-sector accumulation and a softer rate outlook have kept bullion firm, with silver and platinum tracking the move higher.