Silver is an element with the symbol Ag (Argentum). It is a white, soft metal, it exhibits the highest electrical conductivity, thermal conductivity, and reflectivity of any metal. Silver is found in the earth’s crust in the pure, free elemental form (“native silver”). Silver is a precious metal. It is used in many bullion coins, in jewelry, sometimes alongside gold. It is also used in solar panels, water filtration, ornaments, high-value tableware and utensils, window coatings, in electrical contacts and conductors, as a colorant in stained glass and in specialized confectionery. Silver’s compounds are used in photographic and X-ray film. The purity of silver is usually measured on a per-mile basis; a 94% pure alloy is described as “0.94 fine”. Silver has an enduring role in most cultures. It is one of the seven metals of antiquity.
The prices of silver change every day. The current price is $24.20 per ounce. Per gram price of silver is $ 0.78 and the silver price per kilo is $778.03. If you want to invest your money silver is quite a good option. Silver by virtue is most affordable, has been a preferred choice of masses for ornaments and bullion investment. There is a market for silver that offers a fair price, and reasonable liquidity.
When we refer to the spot price of silver or any metal for that matter, it refers to the price at which the metal may be exchanged and delivered upon now. In other words, the spot price is the price at which silver is currently trading. All of the products on our website are based on the spot price, and therefore you will notice that prices update every few seconds during market hours. It allows customers to invest based on the most up to date market conditions possible.
Silver prices fluctuate on daily basis. So, if you want to invest or buy silver you need to keep a good eye on the silver market.
Silver Price Forecast:
The silver market tends to move in reaction to whatever is going with the US dollars, typically in a negative correlation. Because of this, if the US dollar index is rising, that is bad news for silver. Silver is an industrial metal so we should keep this in mind that there is a certain amount of industrial demand factored into this equation as well. Silver and gold markets are a little bit different, but the two markets tend to move in the same general direction. Silver is supported by the heavy industrial use as well as its strategic importance as a currency hedge during times of uncertainty. Silver is heavily utilized for industrial manufacturing. 200 million-plus ounce of silver is used only in jewelry production every year. So, silver will never be a bad investment it will be beneficial for you whenever you want to sell it.