Silver, like gold, is a trading instrument and can be sold at the spot price. As with gold, the silver spot price is constantly changing. The dynamics of silver price growth remains positive, despite short-term corrective movements. There are several reasons for the increase in the cost of silver. Among them are the growth in silver consumption and the desire of investors to diversify their investments, using silver as an additional financial instrument. First, aggressive investors are engaged in silver since, often, the silver price fluctuates a lot under the influence of the global economic and political situation.
Silver is characterized by high volatility
This tool can be considered both for making a profit in short and medium-term trading and for investing on a long-term basis. The fact is that when silver enters a trend, it follows it for weeks or even months.
Large private investors influence the silver market.
Silver has a constant demand: it is used in industrial production, high technology, medicine, the food industry, water purification, etc.
One of the most important centers of trade is in London. It is one of the oldest and largest centers of physical trade in silver, gold, and other precious metals in the world. Official prices for metals are set here every day at 10.30 and 15.00. In the intervals between the announcements of London fixing, metal prices fluctuate depending on supply and demand. Traditionally, precious metals are measured in troy ounces. The name of this measure comes from the name of the French city of Troyes, where this type of measurement first appeared. One troy ounce is 1.0971428 avoirdupois ounces (oz).