Silver - also known as "the poor man's gold" - is both a precious metal and an industrial metal. Accordingly, many market participants feel the need to hedge against fluctuations in the price of silver. Silver traded on the COMEX Future is the instrument of choice for this and is also used by traders to profit from fluctuations in the price of silver.
Contract specifications
| Designation | Silver (COMEX Silver) |
| Abbreviation | SI |
| Contract size | 5000 troy ounces |
| Price quote | USD per fine ounce |
| Tick size | 0.005 USD |
| Tick value | 25 USD |
| Daily price limit | none |
| Stock Exchange | COMEX |
| Trading hours (DE) | 0 o'clock - 23 o'clock |
| Contract months | In each case current month + 2 following months, as well as Jan (F), Mar (H), May (K), Sep (U) coming 23 months, as well as. Jul (N), Dec (Z), coming 60 months |
Silver futures are traded in New York on the Comex (part of the CME Group). Electronic trading is possible from 0:00 to 23:00. With one silver future 5000 troy ounces are moved, which corresponds to an equivalent value of 100 000 USD at a silver price of 20 USD. A USD 1 movement in the price of silver results in a profit or loss of USD 5000.
In addition to the large silver future (SI), the following smaller contracts are available:
- Mini Silver (2500 troy ounces, ticker: QI)
- Micro Silver (1000 troy ounces, ticker: SIL)
