International silver prices are generally quoted in US dollars per troy ounce. When Lucky Gold users check international silver prices, they may follow the latest quote, daily change, intraday high and low, and quote timestamp, then understand actual price movements with the contract size of London Silver per lot.
I. How Did International Silver Prices Perform on August 20
On August 20, near-month silver futures on the New York market settled at $68.026 per troy ounce, rising 3.49% on the day, marking the second consecutive trading day of gains. The cumulative gain over two days reached 6.39%, and the settlement level on that day was also a relatively high point since June 17.
This shows that international silver prices can see relatively sharp movements within a short period. Therefore, the silver price seen in the morning may not be close to the price seen in the evening.
II. What Does USD Per Troy Ounce Mean
For example, an international silver quote shows $68. This means the price of silver is approximately $68 per troy ounce. It is neither the price of one standard lot of London Silver nor the transaction amount directly entered by users when placing orders. When calculating actual trade size, you also need to consider the troy ounces contained in one lot.
III. Why Is One Lot of London Silver 5000 Troy Ounces
Lucky Gold Global Limited, the entity of Lucky Gold, is currently listed as Member No.162 of the Hong Kong Gold Exchange. The member product information includes London Silver of 5000 troy ounces.
Therefore: 1 lot equals 5000 troy ounces. 0.1 lot equals 500 troy ounces. 0.01 lot equals 50 troy ounces.
With this conversion, it becomes easier to calculate when international silver prices rise by $1.
IV. What Price Movement Does a $1 Rise in Silver Represent
If silver rises from $68 to $69, it means an increase of $1 per troy ounce. Calculated based on one standard lot of 5000 troy ounces: 1 lot corresponds to a price movement of approximately $5000. 0.1 lot corresponds to approximately $500. 0.01 lot corresponds to approximately $50.
This is used to illustrate the relationship between price movement and trade volume. Actual account results also depend on order direction and actual executed price.
V. Why Silver May Have Noticeable Daily Volatility
Silver prices are affected by market buying and selling activities and overall precious metals market trends. On August 18, the near-month silver contract once dropped 3.30% in a single day and closed at $63.941, before rebounding to $68.026 on August 20.
Within just about two trading days, we can observe distinctly different market performance. Therefore, when tracking international silver prices, it is better to refer to timestamps instead of memorizing a single figure.
VI. How to Read International Silver Prices
It is recommended to check items in this order: Current quote in US dollars per troy ounce Daily price change Intraday high and low Latest update time Trading lot size for London Silver
For general market reference, the first four items are sufficient. If you need to check account trades further, perform calculations with the 5000 troy ounces per lot specification.