price of silver
The price of silver can be more volatile than other precious metals such as gold, largely due to its high uses in industry, making it highly susceptible to supply and demand chains.
Whilst new uses for silver are discovered frequently driving demand, the finite supply of silver can help further raise the silver price.
The most common use of silver is still in Jewellery, but it is being used increasingly in medical applications due to its excellent sterile properties.
In uncertain economic times many investors fall back on physical investments such as silver, making the silver price very resilient in slow markets and financial crises.
Fascinatingly Silver and Gold have been used as currency for thousands of years.
In Roman times, the silver/gold ratio was set at 12 to 1.
In 1792, the gold/silver price ratio was fixed by law in the United States at 15 to 1, which meant that one troy ounce of gold was worth 15 troy ounces of silver.
The average gold/silver price ratio during the 20th century, however, was 47 to 1.