The spot price of Silver is the market price at which one ounce of Silver can be bought and sold for instant delivery. The Silver spot price is constantly changing, making it crucial to remain updated on performance indicators such as market conditions and current events because they greatly affect the buying and selling of Silver.
 
The Silver price is always quoted in troy ounces but can be converted into any quantity a person wants to buy or sell. Silver spot prices are universal, as most Silver markets use live Silver prices listed in U.S. dollars, so the price of Silver per ounce is the same worldwide.