Have you ever thought of how much the price of silver per ounce is in the past? How about its price in the future? You’ll be surprised to know how silver per ounce prices are doing in the market once you do so.
There was a time in 1970s when people especially the rich ones started buying silver as a hedge against inflation. Its market is basically small that even if a single person buy silver, the price of silver per ounce effects. Inflation also causes other people to resort in buying it thus increasing the price of silver per ounce.
Silver is a precious metal not available in abundance in the nature. It is available in small quantities than gold. That’s why the availability of this metal is lesser and the demand is increasing like no other precious metal is.
Silver comes in smaller quantities with gold as well as being a by-product of other metal production. Industrial demand for this metal is also increasing. Silver as we know is used in electronic gadgets such as iPhones, flat screen TVs, batteries, sonar panels, etc. Silver on these items however cannot be recycled. Think of how this would affect the demand for silver supply. Also think about how its supply is fast depleting and the continued demand for its supply will affect the price of silver per ounce in the coming years.
Silver prices per ounce are skyrocketing. Its price is constantly going up and will surely continue to do so. Why? There are different reasons for this behavior. For one, silver is not recyclable but is totally used up. For the last 5000 thousand years that mining silver is done, only a little amount of it is left available. The demand for silver is a lot higher than its supply. Demand for silver however is not stagnant but rather continues to increase. Due to this, amount of silver per ounce is also growing.
Another thing that affects the continued increase in prices of silver per ounce is the increase in crude prices and the ongoing inflation. This in return results to people buying silver in bullion. Silver market is small compared to that of gold. Even if a single person buys a lot of silver, the price per ounce effects. The price of silver per ounce continues to escalate. There is no denying the fact that there is an inevitable rise with silver.
Source by Alain Grey
Silver - Per Ounce Costs High in the Market These Days
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