About Silver (XAG/USD)

Silver is a precious metal valued as jewelry, currency and investment. Apart from being a precious metal, it has a high demand for various industrial applications. Chemical symbol of Silver is Ag, derived from its Latin name Argentum. It is quoted in U.S. Dollars per troy ounce and its international lot size consists of 5000 troy ounces.

Silver has long been valued as a precious metal, used in currency coins, to make ornaments, jewelry, high-value tableware and utensils (hence the term silverware) and as an investment in the forms of coins and bullion. It is used industrially in electrical contacts and conductors, in mirrors and in catalysis of chemical reactions. Its compounds are used in photographic film and dilute silver nitrate solutions and other compounds are used as disinfectants and microbicides. While many medical antimicrobial uses of silver have been supplanted by antibiotics, further research into clinical potential continues.

History of Silver:

Silver has been used for thousands of years for ornaments and utensils, trade, and as the basis for many monetary systems. Its value as a precious metal was long considered second only to gold. The word "silver" appears in Anglo-Saxon in various spellings, such as seolfor and siolfor. A similar form is seen throughout the Germanic languages. Silver has been known since ancient times. Mentioned in the Book of Genesis, slag heaps found in Asia Minor and on the islands of the Aegean Sea indicate it was being separated from lead as early as the 4th millennium BC using surface mining.

Trading time:

XAG/USD can be traded on our platform on the following times

12:00 am to 11:00 pm (Central European Time) Monday to Friday.

10:00 pm to 09:00 pm (GMT) Sunday to Friday.

Contract Specifications for Silver






Silver quoted in U.S. Dollars

Standard Tradable Quantity (also called a LOT)

5000 troy ounces (1 standard lot)

Minimum Tradable Quantity (the fraction of lot available to trade)

50 troy ounces (1 troy ounce = 31.10348 grams approximately)

Base Currency (Currency used for margin, P&L and other calculations)

United States Dollars

Tick Size (The least incremental change in the price of the index)

0.01 (example price: $18.82 changes to $18.83 at least)


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