Silver spot price can be obtained at many websites and it is usually quoted per troy ounce. The silver price per ounce can also be obtained. Silver price is about 1/30th the price of gold but this ratio has been varying for the past several years. The value of silver arises because of its industrial applications and also its use in jewelry, bullion coins. It also has store value.
The price of silver rises or falls due to speculation as also the demand and supply of this precious metal. The prices never remain steady and the silver market is extremely volatile, because of changes in the industrial demand and also the store value of the metal.
The silver price per ounce is usually related with the gold price with varying ratios. The websites show you the silver spot price as well as the average price of the silver for any particular month. On the basis of these prices, it is possible for investors to make wise decisions regarding the purchase of selling of this precious metal.
The demand for silver is definitely less than gold and this makes the silver market smaller and tighter. When a big trader or investor makes huge purchases, he is able to bring about changes in the spot price of silver, as a large share of the market is covered by the purchase. This brings about price fluctuation. Though silver was used as a unit of currency until 1970 in the United States, the value of the metal soon started exceeding the value of the coin printed on it, due to which the usage was stopped.
The current economic crisis could definitely have been the cause of the changes in the silver spot price. However, many investors think that this is the right time to be investing in silver, as there is every chance of the price rising at a later time, when profits can be made. The industrial demand brings about sudden upswings and downswings in the silver price per ounce. Its use in electrical appliances as also in medical field also leads to the fluctuations in the price and with an expected increase in the future use of silver, the metal is most likely to show an upward trend with respect to the spot price of silver.
The price of silver rises or falls due to speculation as also the demand and supply of this precious metal. The prices never remain steady and the silver market is extremely volatile, because of changes in the industrial demand and also the store value of the metal.
The silver price per ounce is usually related with the gold price with varying ratios. The websites show you the silver spot price as well as the average price of the silver for any particular month. On the basis of these prices, it is possible for investors to make wise decisions regarding the purchase of selling of this precious metal.
The demand for silver is definitely less than gold and this makes the silver market smaller and tighter. When a big trader or investor makes huge purchases, he is able to bring about changes in the spot price of silver, as a large share of the market is covered by the purchase. This brings about price fluctuation. Though silver was used as a unit of currency until 1970 in the United States, the value of the metal soon started exceeding the value of the coin printed on it, due to which the usage was stopped.
The current economic crisis could definitely have been the cause of the changes in the silver spot price. However, many investors think that this is the right time to be investing in silver, as there is every chance of the price rising at a later time, when profits can be made. The industrial demand brings about sudden upswings and downswings in the silver price per ounce. Its use in electrical appliances as also in medical field also leads to the fluctuations in the price and with an expected increase in the future use of silver, the metal is most likely to show an upward trend with respect to the spot price of silver.
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