What Drives the Price of Silver: Global Trends and Purity Matters

The purity of silver is typically expressed as fineness, indicating the percentage of pure silver in an alloy. For instance, 999 fineness means that 999 parts out of 1000 are pure silver.

Fine silver, also known as pure silver or .999 silver, contains 99.9% silver content with minimal impurities. This is the purest form of silver commonly available to consumers.

Sterling silver, on the other hand, is the most common grade used in jewelry and household items. It contains 92.5% silver and 7.5% other metals, usually copper.