silver

(Trading symbol SI) A precious metal traded on the spot and futures markets. On COMEX, a futures contract for silver equals 5000 troy ounces. Contract prices for silver move in minimum increments of $.005 per troy ounce, or $25 per contract. With some exceptions, the exchange will call a halt to trading on silver if the price fluctuates more than $1.50 ($7,500 per contract) above or below the previous day's close.