Lithium
Silver Price Per Ounce Today
Much like gold, silver can be used as an investment as it is considered a form of money and store of value. The price of silver, however, has been volatile and as with any other consumer good, it can fluctuate according to demand. What used to be $49.50 per ounce in the market (during the 80s), the silver price per ounce today, as of November 20, 2009, is $18.45.
Silver is usually compared to gold as its price is usually determined by tracking the price of gold. In 1792, the United States set the ratio of gold to silver as 1:15 or one troy ounce of gold for 15 ounces of silver. In the 20th century, this ratio has gone up to 1:47.
Silver price per ounce today may not be as valuable as it once was, but it has been on the rise since the start of the year. As mentioned, silver price is now at $18.45, up 71% from $10.79 at the beginning of 2009. It is still nowhere near the gold price, however, which closed at a record high of $1,141 on November 19, 2009.
Despite its big difference from gold, silver price per ounce is still expected to rise. There is the increase in industrial demand as new items in the form of electrical appliances and medical equipment make use of silver. There are also applications for silver in the development of batteries, superconductors, and microcircuits.
Although the worldwide economic crisis has reduced the silver price per ounce today, industry experts still say that in the long-term, silver demand will increase, with the advent of lithium-ion batteries in electric cars. The increase may not be immediate as the technology of the digital camera has reduced demand for silver halide-based photographic film, but silver is still expected to play catch-up to the value of gold.
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