A speaker comprising: a magnetic circuit provided with a through hole, and a recess formed around the through hole for retaining a magnetic fluid. The speaker further comprises a bearing provided in the through hole and a shaft supported by the bearing to be movable up and down and fixed to a center cap fixed to a voice coil. A gap between the bearing and the shaft is filled with the magnetic fluid. The speaker eliminates a damper, and realizes a very low f.sub.0 which has not been obtained before. Furthermore, the magnetic fluid absorbs friction and resonance between the bearing and the shaft, and the magnetic fluid is kept in the recess and is supplied smoothly into the gap between the shaft and the bearing. Thus, generation of abnormal sounds is suppressed and a large amplitude operation is realized in the speakers of the present invention.