Silver Price in Israeli Shekels

There are plenty of silver investors who call Israel home. However, trading silver in Israel comes with a particular challenge — the price of silver is routinely charted in US dollars. Despite Israel’s close relationship with the United States, its investors must still tangle with the headache of calculating the exchange rates between the two.

The chart on this page may serve as aspirin to those investors. We have more than three decades’ worth of historical silver prices on it, only all of them are expressed in terms of the shekel, rather than the dollar.

As it turns out, it’s a pretty good idea for Israeli silver investors to use this chart during their activities. So, let’s talk about why, along with how best to use the chart effectively, and why silver prices move.

Why Monitor Silver in ILS?

Watching silver’s rises and falls in terms of ILS eliminates the need for Israeli silver investors to do any kind of mental or actual mathematics when they check the market. Since the conversion has already taken place, there’s no need to figure out how many shekels a dollar is worth, or vice versa.

However, it also simplifies the understanding of the price shifts that silver goes through. When you can equate a day or week of trading to a utility bill, a movie ticket, or a bottle of wine, it’s much easier to keep perspective about the magnitude and meaning of it.

The truth, though, is that an additional investment opportunity lurking within this chart that only those in Israel can use. It stems from the fact that the relationship between the shekel and the dollar is not a fixed proportion. Consider the following:

• If the shekel strengthens against the dollar, then silver becomes easier to afford for Israeli investors. In response, they begin buying more of the white metal than before. When demand escalates, it tends to drive up the price of the commodity. In these scenarios, you might be able to grab additional profit without any extra effort or risk by selling from your existing stores of silver.
• If the shekel weakens against the dollar, silver becomes harder to buy in Israel. Fewer people buying an item means that the price for the item drops. If you can wait out the drop and time it before the shekel recovers, you may be able to buy silver much more cheaply than you normally would and bring down the aggregate per-unit cost of your silver assets.

Trading in this manner means that you are trading on exchange rate fluctuations, rather than any shifts in the underlying value of silver. So, to spot opportunities, you will need to compare this chart against the silver price chart for USD. If you see any discrepancies — especially if they are quite noticeable — an exchange rate swing might be underway.

Of course, we’re not advising you to buy or sell on this one factor alone. In the end, it comes down to your own research and decision, and you should consult with an investment professional if you’re truly looking for advice about your portfolio.

How to Use This Price Chart

The first thing to notice about our ILS silver price chart is that you get all the information about the current trading day from the start. You can see the spot price, bid price, and ask price in the top left corner of the dashboard. All three of these prices are updated in real time, but the high and low prices of the day are only updated as the situation demands.

The chart itself also displays the progress of the current day, but you can quickly look back at the past year of trading using the preset buttons on the dashboard. However, if you’d like to look back further, choose the “All” option to expand the chart to its full size. We have every trading day’s closing silver price from January 1, 1995, to the present.

Now, you may have a more specific idea about the date range you want to check. In that case, you should enter a start date and end date for your inquiry in the blanks that appear beneath the All button when you press it.

If you’d like, you may also set your range using the slider located beneath the chart itself. In fact, there is an added value to using this method, as you can compare time periods of the same length against one another.

No matter the range you choose, you can examine every datapoint on the chart for more detail. Hover your finger or cursor over the point to find out more specific information about the date the point covers and its associated price point. Just be aware, however, that you may need to reduce the date range if you want the details about a specific date — longer timeframes will only give monthly or weekly average prices.

Finally, you can compare whatever timeframe you choose against various financial metrics or indicators using the radio buttons on the dashboard. Choosing between the FTSE 100, crude oil, or the Dow Jones Industrial Average will bring up a mirrored chart beneath the x-axis that shows the price changes of it against those of silver. This feature allows you to look for any correlations between the two measures.

Factors Influencing Silver’s Price

Although you may discover correlations between those indicators mentioned above, the reality is that the price of silver is determined by the supply of it available to the public and the demand from the public for it. However, these two drivers are influenced by various external factors, so there is a definite throughline to follow between the situations described below and the price of silver:

• Geopolitical conditions: Disputes both within and between nations are unsettling to regular people, regardless of whether they are directly affected by it or not. Wars, civil unrest, and trade disputes can generate nervousness, especially with respect to investors and their confidence in their portfolios. Thus, we often see price spikes during periods of conflict as investors run to silver as a haven. Unsurprisingly, there was a notable increase in silver’s price in October 2023 due to the incredible fear and uncertainty that Hamas’ attack on Israel generated.
• Industrial demand: Silver stands out from other precious metals due to its high levels of industrial demand. Many industries, including medicine, electronics, and green energy, rely heavily on silver’s elemental properties, as it is extremely reflective, conductive, and antimicrobial. In recent years, green energy’s growing popularity has had a noticeable effect on the demand for silver and its associated price. In fact, the spikes present in 2024 and 2025 are due, in no small part, to its growing usage in photovoltaic cells critical to the efficient operation of solar panels.
• Economic conditions: Across the board, precious metals are valued higher during periods of economic instability. As economies decline, investors try to hide the value of their net worths within the tangible safety provided by precious metals like silver. In fact, we often saw notable spikes in price during macro events like the financial crisis of the late 2000s or the COVID-19 shutdowns of 2020. In those cases, we saw a distinct pattern, where prices dipped sharply as investors panic-sold their silver assets to try and stave off losses, then returned to silver to protect what value was left over.
• Inflation: Inflation occurs when governments add currency to their existing money supplies. The idea is that doing so will allow the governments to pay for more initiatives and/or help stave off the negative effects of an economic downturn. However, inflation dilutes the value of currency and — in the process — drives down investor portfolio values. Investors don’t really like it when their portfolios decline, so they turn to silver in response. In fact, the record high price for silver of all time — ₪164.53 in May 2011 — occurred primarily in response to many governments of the world adopting inflationary policies to combat the financial crisis.

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