A Short History of Silver Prices

Silver is the most popular used precious metal currently. Additionally, its production is more than that of other important metals such as gold. It is availability is twelve times that of gold hence, it is relatively popular for making jewellery, house hold items and for industrial use. Silver is very popular that it is used in making of currency coins in various countries. A short history of silver prices in the market indicates its value which varies at particular times.

How Silver Is Mined Part I

In the 1960′s silver was being sold at fairly lower prices than that of contemporary times. It was selling at $0.5 per ounce. The prices then began rising steadily so that in the year 1970′s silver was selling at the price of $1.88 per ounce. During the 1980′s silver prices varied and were not stable in the market. In 1980 silver short to a price of $49 and then sharply declined. In 1983 silver was selling at $5 per ounce. The price then rose to $15 in 1985. it then decreased to a low of $4 in 1983. In 1988 silver was trading at the price $7.5. It then experienced a downward gravitation in the early 1990′s.

In 1990, silver was selling at a price of $4.8 per ounce. In the year 1993, silver was selling at the price of $4.8. In 1995, it then averagely was selling at $5 per ounce. The prices then decreased to $4.9 in 1998. The price was not stable but traded in a fairly small range between $ 5 and $4.9 per ounce from 1999 to 2000.

In the beginning of the 21st century the prices of silver rose to trade at $4.95 to $5.45. This rise in the prices was attributed to the high demand that the metal was experiencing in the global market. In 2011 silver prices rose sharply to $48 then dropped to an average of $27 in 2012. Silver use in the market of electronics has soared its current prices to high levels that have never been experienced in history. Currently silver is being sold at a relative price of $24.66 per ounce in the United States.

How Silver Is Mined Part 2

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