Ounce Of Silver
What Is The Price of Silver Per Ounce
What commonly comes to mind when the word silver is mentioned?
Accessory? Color? Or probably those shimmering Christmas balls?
Students who have studied chemistry may try to boast that its chemical symbol is Ag. But what really is silver?
Silver is a very ductile metal, which means it is a good electricity conductor. In fact, among all metals, it is the most electrically conductive–even more so than copper. But because it’s more costly and prone to tarnishing, its electrical purposes have been deterred. It’s also malleable, which means it can be bent, though it’s a little harder than gold. It has brilliant white metallic luster and can take a high level of polish.
Apart from being a popular accessory, silver has other uses thanks to its precious metal properties. To this date, there are still many countries that make use of silver as part of their respective currencies.
Silver is also used in award medals which symbolizes second in rank, with gold as the first in rank of course. And though it’s a poor second to gold, silver is still valuable. In fact, many people, especially the younger generation, prefer silver to gold as jewelry because of its color. It may not be as pricey as gold, but there’s no question that it’s just as elegant.
The price of silver per ounce is determined through the gold/silver ratio which is often analyzed by traders, investors and buyers. The American law fixed the gold/silver ratio in 1792 at 1:15; one troy ounce of gold would buy 15 troy ounce of silver. These days, the current price of silver per ounce is determined by the private and institutional investors. Industrial demand also affects the price of silver per ounce because in the recent years, the use of silver items is increasing as its viable uses in batteries, superconductors and microcircuits are being explored.
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