A futures contract that has silver as an underlying. Silver futures are standardized, exchange-traded contracts in which the buyer (contract holder) agrees to take delivery, from the seller, a specific amount of silver at a predetermined price on a future delivery date. Such futures can also settled in cash (cash settlement).

Silver futures are an appealing commodity for many market participants and for different reasons including investment, hedging, and diversification. These contracts can be traded nearly 24 hours per day, 6 days per week. In terms of contract cycle, primary silver futures contracts are traded in March, May, July, September, and December. These contract cant also trade in other months, but with lesser volume and open interest.

The prices of silver futures are set in major currencies such as US dollars and cents per 1 troy ounce (1 kg = 32.15 troy ounces) of 999 purity silver. The volume of one standard silver futures contract is 5,000 troy ounces (about 155.5 kg). Other contract sizes are also available (e.g., silver mini contracts with a volume  of 2,500 and 1,000 ounces, collectively known as E-mini silver).