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SI

Silver

31.04 USD/oz -0.14 (-0.45%) (Last updated - September 17, 2024 12:00 AM UTC )
Day High
20.28
Day Low
19.49
Previous Close
19.86
52 Week Range
18.01 - 28.9
Change YTD
28.64%

About

Performance USD/oz Change
5 Day 6.77%
1 Month 7.07%
3 Months 3.41%
6 Months 23.07%
52 Week 40.92%

September 17, 2024 12:00 AM UTC

Data Powered by Stockdio. Data delayed by 5 minutes unless otherwise indicated.

Silver is traditionally considered a store of wealth. People invest in silver in via bullions, coins or through accumulation plans, similar to dollar-cost averaging, where the investor makes purchases in a staggered manner.

Silver is one of the best conductors of electricity among metals. It also has unmatched thermal conductivity and possesses high optical reflectivity. These properties make it ideal for soldering electronic circuits and fabricating solar panels. Most of the silver demand, nearly 50%, comes from the industrial sector.

The auto industry consumes nearly 55Moz of silver every year in making electric connections in vehicles, including in electric vehicles.

Silver has been mined for thousands of years. The first evidence of silver dates to 3,000 BC when silver was successfully separated from lead. In ancient times, silver was primarily used for trade, silverware and jewellery, which continues to the modern era too.

Supply & Demand

The demand for silver is met through mining the metal, followed by recycling. It is mined from galena, a lead ore that contains large amounts of silver. Silver is also extracted during copper and gold mining.

Mexico, China, Peru and Australia are some of the top silver mining countries. Industrias Penoles SAB de CV (Mexico), KGHM Polska Miedz SA (Poland), Glencore Plc (Switzerland), Newmont Corp (USA) and Polymetal International Plc (Cyprus) are among the top global silver-producing companies.

The demand for silver has been on an upward trajectory. Almost half of the demand stems from the industrial sector. The push towards green energy has also had a positive impact on the demand as silver is used in making solar panels. Jewellery, silverware and bullions also contribute to the silver demand.

Code Company Price Chg %Chg High Low Volume Market Cap
29M 29Metals Ltd 0.485 -0.010 -2.020 0.495 0.480 503384 354.547 M
AAU Antilles Gold Ltd 0.003 0.000 0.000 0.004 0.003 24263218 7.423 M
ADT Adriatic Metals Plc 3.605 0.055 1.549 3.605 3.485 294685 1,138.639 M
AGD Austral Gold Ltd 0.028 0.000 0.000 0.028 0.028 -- 17.145 M
AML Aeon Metals Ltd 0.005 0.000 0.000 0.005 0.005 -- 5.482 M
AQI Alicanto Minerals Ltd 0.022 0.000 0.000 0.022 0.022 1082 18.704 M
ARD Argent Minerals Ltd 0.017 -0.001 -5.556 0.018 0.017 164323 24.547 M
BML Boab Metals Ltd 0.098 -0.007 -6.667 0.105 0.098 120000 23.340 M
HRZ Horizon Minerals Limited 0.055 -0.001 -1.786 0.058 0.054 959542 54.809 M
IVR Investigator Resources Ltd 0.038 -0.003 -7.317 0.040 0.038 1083455 58.789 M
KCN Kingsgate Consolidated Ltd. 1.340 -0.010 -0.741 1.345 1.320 114065 350.543 M
KSN Kingston Resources Ltd 0.082 -0.002 -2.381 0.083 0.082 564735 59.404 M
MKR Manuka Resources Ltd 0.059 0.005 9.259 0.060 0.058 3261045 28.851 M
MTH Mithril Resources Ltd 0.500 -0.005 -0.990 0.550 0.475 3172613 49.477 M
RDM Red Metal Ltd 0.110 0.000 0.000 0.110 0.110 13000 32.962 M
RIM Rimfire Pacific Mining NL 0.064 0.009 16.364 0.064 0.060 12552899 87.219 M
SFR Sandfire Resources NL 10.620 -0.280 -2.569 10.680 10.530 1132106 4,917.544 M
SVL Silver Mines Ltd 0.096 0.000 0.000 0.097 0.094 2041690 135.724 M
* Data powered by EODHD®. Data delayed 20 minutes unless otherwise indicated.

Frequently Asked Questions

There are several options available for making investments in silver. Some of them are:

  • Bullion & coins: Investors can buy bars of silver (99.9% pure). Governments around the world issue silver coins which can be purchased and stored.
  • Certificates: Investors can invest in gold by buying certificates, which does not involve taking the delivery of silver immediately. The certificate guarantees the delivery of the purchased quantity when desired.
  • Future & Options: Investors can trade in silver through commodity exchanges.
  • ETFs: There are several ETFs available that invest in silver. These ETFs mimic spot prices of silver. ETFs purchase physical silver and store them in highly secure vaults. The ETF route is considered as a good option for investors as they do not have to worry about physical storage and security.

Silver is known to be the best conductor of electricity. It is also a good conductor of heat. These properties make it suitable for manufacturing of solar panels. Demand for silver from the auto industry is set to increase substantially in coming years. It’s use in modern-day hybrid and battery-operated vehicles is on the rise. Fossil fuel-based vehicles are also witnessing an increase in the use of electronics, thus boosting the demand for silver.

It’s a ratio of gold price per ounce to the silver price per ounce in the same currency. Suppose gold is at US$1,800/oz and silver is trading at US$20/oz, then the Gold-Silver ratio would be 1800/20 or 90.

This ratio is used by traders to decide on taking long or short positions in gold and silver. If the ratio is too high, it could be inferred that gold prices have moved upside considerably or silver prices have dropped significantly. Based on this, investors make a call to go long in silver and short gold or vice versa.

Historical Graph


Chart by TradingView
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