The spot price for one ounce of silver has gradually increased over the past few years, and monthly spot price data indicates that the age-old commodity shows no signs of stopping.
The current silver ounce spot price is listed at $36.28 as of June 20, nearly a 25% increase since the start of 2025 (YTD), according to APMEX.
Silver ounce spot price surges
Over the last month, the silver spot price has increased by roughly $3, representing a 9% rise. Additionally, over the last three months, a 13.56% increase occurred, bumping up the price for one silver ounce by $4.30, APMEX stated.
“Silver is a precious metal with a finite supply. Its limited supply and many uses across industries, from healthcare to automotive to energy, mean it will always be in demand,” APMEX wrote.
Stepping further away, the five-year silver timeline shown by APMEX listed the commodity more than doubled in price, a 102% increase since Jan. 1, 2020, when the spot price was $17.92 per ounce.
APMEX stated that since 1990, the lowest price silver had reached was $3.55 per ounce in 1991; however, the silver ounce spot price reached more than $48 in 2011.
“Advocates of silver point to the 1980 spike in prices as a sign of what silver prices can reach, especially in a scarcity environment, and point out that $49.45 in 1980 would be the equivalent of $184.64 in 2023 due to inflation,” APMEX stated. “This puts a theoretical upper limit on the spot price of silver.”
Gold-to-silver ratio
The 1792 U.S. Coinage Act established a fixed gold-to-silver ratio of 15:1, meaning 15 silver ounces would equal one ounce of gold.
Although the Act had been amended multiple times since 1792, and President Richard Nixon abolished the Gold Standard in 1971 in an attempt to combat inflation, the fixed ratio of 15:1 was subject to fluctuation over time.
The spot price for an ounce of gold is $3,384 as of June 20, and the current gold-to-silver ratio is 93.63, requiring nearly 94 ounces of silver to equal one ounce of gold, according to APMEX.
Calculating the gold-to-silver ratio requires dividing the current spot price of gold by the current spot price of silver.
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