How to trade silver: A complete guide to stocks and exchange-traded funds (ETFs)

What is silver trading?

Silver trading involves gaining exposure to the price of silver, rather than holding the physical metal. Many investors choose stocks or ETFs to take a position on where prices may move.

Knowing a few core definitions may help your understanding of how to invest in silver:

• Silver spot price: The silver spot price refers to the price at which physical silver for immediate delivery is trading at a given time and place. It's often referenced against the US dollar.
• The physical metal itself: A spot commodity is the actual physical commodity itself, different to a derivative contract tied to its price.
• Physical delivery: Physical delivery is the physical transfer of the underlying commodity to satisfy a derivative contract's terms.

Silver prices are also tracked through widely referenced benchmarks, such as the LBMA Silver Price, which is expressed in US dollars per troy ounce and published via Reuters, with the code LDNXAGUSD=.

Rather than arranging physical delivery, many investors use assets such as equities or ETFs to follow price movements. This lets you participate without storing silver bullion.

Why invest in silver?

Silver may appeal to investors because of its dual role and price behavior. 

Consider the following characteristics:

• High volatility: Silver's daily price volatility can be roughly two to three times greater than gold's, according to Morgan Stanley. This can create potential opportunities in both rising and falling markets, but it also increases risk.
• Dual role: Morgan Stanley also reports that more than half of global silver demand comes from heavy industry and high-technology applications. Silver also has a long history as a store of value, giving investors multiple macroeconomic trends to follow.
• Multiple demand drivers: Analysts commonly monitor the US dollar exchange rate, interest rates, inflation trends and central-bank purchasing activity as demand drivers for gold and silver.
• Portfolio diversification: Silver may offer some portfolio diversification, though Morgan Stanley notes it has only a moderately weak positive correlation with stocks, bonds and other commodities.

What affects the price of silver?

Silver prices respond to a mix of industrial and macroeconomic forces. Here are the key drivers investors often watch:

Industrial demand

• Silver has extensive industrial applications, including electronics, batteries and solar panels, alongside historical use in photography.
• The United States Geological Survey (USGS) estimates 2025 US silver end-uses sat at roughly 25% electrical/electronics, 19% other industrial uses and photography, 18% net physical investment, 15% photovoltaics, 14% coins/medals, 6% jewelry/silverware and 3% brazing/solder. Note that these figures reflect US domestic use, not global demand.

The US dollar and macro conditions

• Because silver is priced in US dollars, analysts commonly monitor the US dollar exchange rate, interest rates, inflation trends and central-bank purchasing activity as demand drivers for gold and silver. The relationship is not fixed or mechanical, and other factors can influence prices at any time.

Gold prices and the gold/silver ratio

• Gold and silver prices have shown a generally strong historical correlation, with one-year rolling correlation ranging roughly from +0.6 to +0.92 since the early 2000s.
• The gold/silver ratio measures how many ounces of silver it takes to buy one ounce of gold, and this ratio has historically fluctuated widely.

Supply and mining output

• Most global silver supply is produced as a byproduct of lead-zinc, copper and gold mining operations rather than from primary silver mines alone.
• USGS estimates world silver mine production rose slightly to about 26,000 tons in 2025 from roughly 25,300 tons in 2024.
• USGS also estimates approximately 1,100 tons of US silver production in 2025, valued at roughly $1.4 billion, sourced from four silver mines and 31 byproduct/coproduct operations.

Keep in mind that past performance does not indicate future results.

How to trade silver

Before choosing an asset, it helps to understand the broad journey. Here is a high-level overview.

1. Understand the market: Track manufacturing and industrial trends, given that silver has extensive applications in electronics, batteries and solar panels. Also monitor the US dollar, interest rates and inflation.
2. Choose an investment that fits your goals: Silver-related stocks and ETFs may provide different types of exposure, risks, and potential returns.
3. Select a platform: Look for transparent fee structures and the specific assets you want to trade.
4. Manage risk: Investors may consider managing investment risk by placing a sell stock order designed to exit a position when a security reaches a specified price level. This can help limit losses or protect gains if the market moves unfavorably. However, execution prices may differ from the specified price due to market volatility, trading volume or other market conditions. 

How to invest in silver stocks

Silver equities and ETFs let you gain exposure through companies connected to the metal. US stock and ETF trading on Crypto.com is offered through Foris Capital US LLC, an SEC-registered broker-dealer and member of FINRA and SIPC.

Silver mining companies

These are companies connected to metal extraction. Exposure can come from dedicated silver miners or from diversified miners that produce silver alongside other metals.

Silver streaming and royalty companies

Streaming and royalty companies are financial firms in the silver value chain. In general terms, they provide capital to mining operations in exchange for certain rights related to future production. Their business models and terms vary widely, so it's worth reviewing each company's disclosures before considering an investment.

Silver ETFs

ETFs offer another route to silver exposure.

• An ETF is an exchange-traded investment product that pools investor money into stocks, bonds or other assets, including commodities.
• ETF shares trade on national exchanges at market prices, which may differ from the fund's net asset value (NAV), and are typically bought through a brokerage account.

ETF structures differ. Some hold physical metal, while others hold equities. For example:

• Shares of a physical silver trust, such as SIVR, represent a fractional undivided beneficial interest in the trust's silver holdings, not direct bullion ownership. A physical silver trust's objective is typically to reflect the performance of silver bullion prices, minus the trust's ongoing expenses.
• Individual shareholders in a physical silver trust generally cannot redeem shares for physical bullion directly; redemptions occur only in large baskets through Authorized Participants.
• Some silver ETFs, such as SLVR, are designed to track an index of silver mining companies rather than the metal's spot price alone. A mixed silver ETF structure can hold meaningful exposure to both silver mining company equities and physically backed silver trusts within a single fund.

Our US Stock Trading account offers access to a large selection of US stocks and ETFs with zero commission and no minimum deposit; customer securities and cash held at Foris Capital are protected by SIPC, up to $500,000, subject to the platform's disclosed terms.

Stock and ETF trading is offered to US users through Foris Capital US LLC, a broker-dealer that is legally separate from our crypto asset business; crypto balances held outside Foris are not protected by SIPC.

A general approach to investing in silver stocks is:

1. Open and verify a stock trading account.
2. Fund your account.
3. Research the type of silver equity or ETF you want to explore.
4. Place your order, keeping risk management in mind.

Key risks of investing in silver

An objective view of the risks helps you make informed decisions.

• High volatility: Rapid price swings can trigger sell stop orders. A stop order is designed to become a market order once a specified stop price is reached, but it does not guarantee the execution price. FINRA warns that in volatile markets, a stop order's actual execution price can be significantly different from the stop price, so stops do not guarantee a specific exit price.
• Macro unpredictability: Analysts commonly monitor the US dollar exchange rate, interest rates, inflation trends and central-bank purchasing activity as demand drivers for gold and silver. Sudden shifts in these factors can be difficult to anticipate.

Interested in trading silver? 

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FAQs about investing in silver

Can beginners invest in silver?

Yes. Many beginners start with silver stocks or broad ETFs to learn market dynamics before exploring more complex assets. Starting simple can help build understanding while managing risk.

What is the silver spot price?

The silver spot price refers to the price at which physical silver for immediate delivery is trading at a given time and place.

What is XAG?

XAG is used as a market code for silver, often quoted against the US dollar. For example, the LBMA Silver Price is published via Reuters code LDNXAGUSD=.

What are silver trading hours?

Silver stocks and ETFs follow standard exchange hours.

What is a silver streaming company?

A silver streaming company is a financial firm that provides capital to mining operations in exchange for certain rights related to future silver production.

Is silver a hedge against inflation?

Historically, some investors have used precious metals such as silver to help retain purchasing power when fiat currency values decline. However, this is not guaranteed, and prices can fluctuate in either direction.

Why is silver more volatile than gold?

A significant portion of global silver demand comes from heavy industry and high-technology applications. This industrial reliance can amplify price reactions.

Are US stocks on Crypto.com protected?

US stock and ETF trading on Crypto.com is offered through Foris Capital US LLC, an SEC-registered broker-dealer and member of FINRA and SIPC. Customer securities and cash held at Foris Capital are protected by SIPC.

This is informational content sponsored by Crypto.com and should not be considered as investment advice.

Foris Capital US LLC (“FCUL” or referred to herein as “Crypto.com Stocks”) is a broker-dealer registered with the U.S. Securities and Exchange Commission (SEC) and a Member of the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC). For further information about FCUL, please visit FINRA BrokerCheck.  

FCUL is a subsidiary of Crypto.com. FCUL is a separate entity from Crypto.com, Foris DAX, Inc., and other affiliated Foris companies. FCUL does not engage in the sale, transfer or custody of crypto currencies or digital assets. Crypto.com is a separate entity from FCUL and does not engage in the securities business. Customer balances and crypto holdings held and transacted at Crypto.com and other entities outside of FCUL are not covered by SIPC insurance and are separate from securities transactions and holdings at FCUL.

Fractional shares are not available for all equities.

All investments involve risk, and not all risks are suitable for every investor. The value of securities may fluctuate and as a result, clients may lose more than their original investment. The past performance of a security, or financial product does not guarantee future results or returns. Keep in mind that while diversification may help spread risk, it does not assure a profit or protect against loss in a down market. There is always the potential of losing money when you invest in securities or other financial products. Investors should consider their investment objectives and risks carefully before investing.