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The spot price of silver is the price that is quoted for immediate payment and delivery. Settlement and delivery of a silver transaction carried out at a spot price is usually executed within one or two business days.What is the spot price of silver?
When people refer to the silver spot price, or the spot price of any metal for that matter, they are referring to the price at which the metal may be exchanged and delivered upon now. In other words, the spot price is the price at which silver is currently trading.What was the price of silver in 1980?
In 1979, the price for silver (based on the London Fix) jumped from $6.08 per troy ounce ($0.195/g) on January 1, 1979 to a record high of $49.45 per troy ounce ($1.590/g) on January 18, 1980, which represents an increase of 713%.