Silver is a commonly used metal in jewelry and other similar products. As silver is a rare and precious metal, its price and value can change rather quickly. When in comparison to gold, silver is much more affordable, due to the abundance of this particular element.
The high amount of malleability and ductility in silver are two of the main reasons that it is used in a wide variety of products.
Silver price fluctuations
While fluctuations of prices for silver can be very volatile, the many different uses and applications of this metal tend to provide a much more stable pricing environment than one might expect.
Silver was once a highly valued commodity, as prices were at an absurdly high price per ounce sometime in the 15th century. Prices remained at their highest for nearly a century, though diminished heavily due to the large number of opened silver mines in Mexico and the New World at that time.
Silver, like most precious metals, is referred to on the scale of troy ounces. A troy ounce is a British term that is part of the imperial measuring system and has been in use since the middle ages.
Silver prices (current stock prices) from 24.02.2017 at 19:59 h
|Fineness||Value in pounds per ounce||Value in pounds per gram||Details to fineness|
The silver price of the different finesses will be updated every minute each day of the stock market from 9:00 to 20:00 h. Press F5 and you are able to check the updated rates. All rates are subject to change.
While there are many reasons for the overall volatility in silver, much of it has to do with commercial demand, industrial demand, supply, and, above all, spectators. Precious metal pricing always fluctuates and changes in a much more haphazard manner than commodities such as gold, as spectators tend to predict where the silver market is heading, resulting in silver prices doing exactly as was predicted, due to a heavy increase in buying because of those predictions. Silver is used in everything from clothing to electronic and jewelry, thus resulting in large demands of the rare substance. As demand grows, prices gravitate towards a higher scale. Demand in and of itself has always been relatively uneven, which allows silver prices to fluctuate as much as they do.