The silver price in Philippine pesos displayed above is updated live, every minute. Data is continuously retrieved 24 hours a day, 5 days a week from the major market exchanges (LBM, NYMEX, GLOBEX, HKEX). The price of silver fluctuates in real time in response to buy and sell transactions, reflecting the dynamics of global supply and demand.
The London market plays a central role in setting the silver price by organizing the London Silver Fixing. This process, which takes place once a day, brings together the main players in the silver market — banks, brokers and financial institutions — to establish an international benchmark price. This spot price serves as the basis for the majority of silver transactions worldwide.
The silver price in Philippine pesos is quoted in troy ounces, the official unit of measurement for the spot silver market. One troy ounce of silver is equivalent to 31.1035 grams.