Lesson · 7 min
Silver 101: Spot, premiums, and what you’re actually trading
Learn the difference between spot price, products, and why premiums matter even in paper trading.
Silver 101
You’ll see a spot price for silver (XAG/USD). That’s the global reference price for a *theoretical* ounce of silver.
Key ideas
- Spot price: the market price of silver per ounce.
- Physical price: spot + premium (minting, shipping, dealer margin).
- Paper trading: you practice *decision-making* and *risk management* without real money.
Practical takeaway
When you paper trade, treat spot as your execution price, but remember real-world fills usually include slippage/premium.
Next
Go to the Trade screen and place a tiny paper trade (e.g., 1 oz) just to learn the workflow.
Suggested action
If you place a trade, use a note template so each click teaches you something.
Quick check
What does ‘spot price’ represent?
Answer all questions, then submit.