Trading hours
Silver typically trades from 23:00 UK on Sunday to 22:00 UK on Friday with a daily break from 22:00 to 23:00 UK; it is busiest in the London morning and the New York morning.
| When | UK time | New York time | Note |
|---|---|---|---|
| Weekly open | Sunday 23:00 | Sunday 18:00 ET | CME Globex futures and most CFDs open Sunday evening New York time. Times follow your broker's server clock. |
| Daily break | 22:00 to 23:00 | 17:00 to 18:00 ET | Typically one hour, Monday to Thursday. |
| Friday close | 22:00 | 17:00 ET | Some brokers stop a few minutes earlier on Friday. |
| Busiest hours | 08:00 to 10:00 and 13:30 to 17:00 | 03:00 to 05:00 and 08:30 to 12:00 ET | Typically the London open, then US data and the New York morning. |
| LBMA Silver Price | 12:00 | 07:00 ET | The daily London benchmark auction. |
New York changes its clocks on different dates from the UK (in 2026 the UK changed on 25 October and the US on 1 November; in 2027 the US changes on 14 March and the UK on 28 March). In those gap weeks New York is 4 hours behind London instead of 5, so every UK time on this page that is set by New York comes an hour earlier. Broker server clocks usually follow New York, so times on your platform can look different in those weeks even though the market has not moved. The LBMA Silver Price stays at 12:00 UK all year.
What is Silver (XAGUSD)?
XAGUSD is the price of one troy ounce of silver in US dollars. Silver is both a precious metal, bought as a store of value like gold, and an industrial metal used in solar panels, electronics and batteries. That double role means it often follows gold but with bigger swings.
The main trading centres are London, where the daily LBMA Silver Price is set, and New York, where COMEX silver futures trade on CME Globex. Spot silver CFDs follow these markets almost around the clock on weekdays.
The trading sessions
Usually quieter, but Chinese and Indian demand can move it.
Volume picks up; the London open and the 12:00 UK benchmark bring activity.
Typically the most active window, with US data at 13:30 UK.
Thinner trade; Fed days bring moves at 19:00 UK.
Contract facts
Silver is quoted in US dollars per ounce, usually to 2 or 3 decimals. A move of 0.01 is often called a point or pip, but brokers differ, so check your platform.
Many brokers use 1 lot = 5,000 troy ounces, the same as a COMEX contract. Some use smaller lots. Check the contract specification in your platform.
On a lot of 5,000 ounces, a 0.01 move is worth 50 dollars and a 0.10 move is worth 500 dollars.
COMEX silver futures (SI): typically 5,000 troy ounces, minimum move 0.005 dollars per ounce (25 dollars). CME also lists smaller silver contracts.
How far it usually moves
Varies with conditions; check the Average daily range indicator on WickSpeak for the current figure. We do not publish a fixed number because we could not verify one from an official source.
What moves Silver (XAGUSD)
Higher real US yields tend to weigh on silver, which pays no interest.
A weaker dollar usually helps silver, which is priced in dollars.
Silver often follows gold's direction, usually with larger percentage moves.
Solar, electronics and factory activity, especially in China, affect demand.
Fear in markets can lift precious metals, though silver's industrial side can drag in a slowdown.
Changes in London and COMEX warehouse stocks can tighten or ease supply.
Scheduled events to watch
Hotter or cooler inflation changes what traders expect from US interest rates, which moves every risk market.
The biggest monthly US data release, often the busiest few minutes of the month.
Eight scheduled meetings a year; the decision and the tone of the press conference reset US rate expectations.
The London benchmark used to price physical silver deals.
A read on US factory demand, a large user of industrial metals.
China is the largest buyer of industrial metals, so its factory survey matters.
What it tends to move with
Usually moves the same way, with bigger swings.
Tends to move against the dollar.
Industrial demand links them on growth news.
Tends to fall when real yields rise.
Tips for trading Silver (XAGUSD)
Check gold first
A silver long is stronger when gold is rising too. If gold closes back below the level it broke, the silver idea is in doubt; a close below your entry candle's low proves it wrong.
Mind the wider swings
Silver moves further than gold in percentage terms. Set stops beyond structure and size down rather than tightening; a 15 minute close beyond the swing proves the trade wrong.
Use US data times
Avoid entering just before 13:30 UK on CPI or jobs days. Trade the break of the first 15 minute candle after the release; a close back inside it proves it wrong.
Watch the London open
Mark the Asian range from 23:00 to 07:00 UK. A 15 minute close outside it after 08:00 UK is a breakout idea; a close back inside proves it wrong.
Connect a cTrader account once and XAGUSD appears on WickSpeak at your broker's own prices. Key levels show the previous day, week and month highs and lows, pivots, round numbers and average daily range levels with their distance in points. Every indicator writes a plain-English reading on the live candle, including what would prove it wrong, and a Playbook play can alert you, draw a trade plan, paper trade or, only on a play where you switched live trading on, place a trade inside the guardrails you set.
Related markets
Sources: lbma.org.uk, help.metrotrade.com, admiralmarkets.com, pepperstone.com, federalreserve.gov, bls.gov. Checked 2026-11-05. Broker hours follow your broker's server clock and can differ.
Questions traders ask
What are silver trading hours in the UK?
Silver typically trades from 23:00 UK on Sunday to 22:00 UK on Friday, with a daily break from 22:00 to 23:00 UK. In the gap weeks around the clock changes these times are an hour earlier.
What is the best time to trade silver?
Typically 13:30 to 17:00 UK, when London and New York overlap and US data lands, and 08:00 to 10:00 UK after the London open.
How many ounces is 1 lot of XAGUSD?
At many brokers 1 lot is 5,000 troy ounces, matching the COMEX contract, so a 0.01 move is worth 50 dollars per lot. Some brokers use other sizes, so check your platform.
Why does silver move more than gold?
Silver's market is smaller and it is also an industrial metal, so it reacts to both safe haven flows and growth news. Moves in percentage terms are usually larger.
When is the LBMA silver price set?
The LBMA Silver Price is set in a daily auction at 12:00 London time and is used as a benchmark for physical silver deals.