Price of Silver ☛
“If the price of Silver takes out $18.50, its on its way to $100!”.
So says Gold Anti-Trust Action Committee chairman Bill Murphy (see video below).
Manipulation is just one of the factors affecting the price of silver that we’ll look at below.
Price of Silver Today
The chart on this page shows the price of silver today, usually accurate to within 10 seconds. There is no need to refresh your browser to receive live updates. You can change the following parameters of the graph by simply clicking on the buttons and menus at the top of the chart:
switch between gold and silver prices
select the time period displayed (between 10 minutes and 20 years)
select your desired currency. Choose from: USD (US Dollars), GBP (British Pounds), EUR (Euros), JPY (Japanese Yen), AUD (Australian Dollars), CAD (Canadian Dollars) and CHF (Swiss Francs).
Price of Silver Per Gram
The chart shows the price of silver today in ounces (on the right) and kilograms (on the left). To get the price of silver per gram, simply divide the price of silver per kilo by 1000. To see the historical price of silver per gram, hover over the line on the chart to find the price of silver per kilo at your desired date and again, divide by 1000.
Silver Price Per Gram: Recent History
The silver price per gram has been increasing for quite some time. Since the early 21st century, overall prices of silver have increased catching the attention of a lot of investors. Many people are now trying to make investments in precious metals like silver and gold.
The demand for silver has increased and due to lower silver price per gram as compared to gold has forced people to purchase silver to help them get secured against inflation, volatility in the stock market and the ongoing devaluation of the US dollar.
What Affects Silver Prices?
There are various factors that affect the price of the silver and few of them are the same factors that also affect the price of the gold. The price of the silver is more volatile as compared to the price of the gold and is mostly affected by jewelry demand and industrial needs.
Following is the list of factors that affect silver prices:
Estimated future demand
Manipulation by financial institutions
China and silver
Silver mining cost
Change in price of gold and other precious metals
Are Silver Prices Rigged?
Much as the financial institutions and controlled media like to deny it, silver prices -- and gold for that matter -- are certainly rigged.
This is good news for investors because, as the video below demonstrates, this cannot go on forever. And when it ceases, the price of silver per gram / ounce will rocket.
“Silver is their Kryptonite. If they lose control of silver, the game’s over! If the price of Silver takes out $18.50, its on its way to $100!”
GATA Chairman, Bill Murphy
How Does Industrial Demand Affect Silver Price?
One of the main factors that affects the price of the silver is Industrial demand. As compared to gold, silver is more of a necessity as it is used in various industrial products. Different industries that need silver for production are given below:
These are just a few of the industries that require silver. As seen from the list there is extensive industrial use of silver whereas there is comparatively much less use of gold. In our homes, from small batteries to microwaves, silver is being used.
Industrial demand clearly has a direct relationship with the price of the silver. As the industrial demand for silver increases, there is an increase in the price of the silver. The industrial demand for photovoltaic items, automobiles, personal computers and televisions is very strong.
What is Estimated Future Demand for Silver?
By looking at the historical data, we can see the effect of the increase in industrial demand. Recently there has been a steady improvement in the economic outlook, and recovery in the construction and housing industry and a strong growth in the automobile sector. These factors are the main reasons for the forecasted uptick in silver demand.
How does China’s Demand Affect the Price of Silver Today?
China, being the emerging market that it is, has a strong demand for silver. Over the last ten years, there has been a notable change in demand because of China. In the year 2000, China accounted for 8% of global industrial silver demand in comparison to the strong 18% contribution late in 2012.
This demand is expected to rise further. Being the most important manufacturer of high-end silver products, US industrial demand is expected to elevate also.
How Does Silver mining Cost Affect the Silver Prices?
Silver mining cost is a strong factor affecting silver prices. Mining cost is the cost of getting silver out of the ground. There is an upward pressure on the mining costs as there is a decrease in yields every year. Since 2005, there has been a decline in the average silver yields of the top 6 silver mines of 38%.
Do Falling Silver Prices Affect Mining Output?
As lower prices take a toll, it was expected that global silver production would fall in 2015 after 12 continuous years of gain. In 2014, silver mine production reached 877.5 million ounces and the 12th successive gain according to the world silver survey. It was also reported that there would be a decline in silver output in 2015.
Falling silver prices are the reason for this trend. In 2013, silver prices fell 36% which exceeds the losses in precious metals and gold, and it tumbled 20% in the year 2014. Silver mining companies, with profit under pressure have focused on cutting costs.
What is the “Cash Cost” of Producing Silver?
The cash cost of production of an ounce of silver is a measure that excluded the capital expenditure, exploration cost and corporate overhead and there was a 16% decrease of that cost to $7.74 an ounce in 2014.
How is Silver Price Affected by Change in Price of Gold?
Almost 30% of world’s silver supply is produced by its own mining; known as “primary” production. The remaining 70% is produced as a byproduct of mining other metals like copper, zinc, lead and gold. According to a report, the change in prices of these products will also cause a change in silver prices. Decline in the prices of these other metals may affect supply of silver going forward.
Gold and silver prices can be seen to reflect economic fear and uncertainty. For example, recent crashes in the share prices in the European banking sector saw the price of gold increase by around 5% in one day.
Monetary Influences on Silver Prices
Looking at the trend of the last few years, silver prices follow gold prices. Silver prices follow rising and falling pattern of gold, except faster and further. It shows that the fundamental demand and supply factor is less of an influence than the monetary influence on precious metals. The fundamental demand-supply is based on electronics, medical appliances and so on.
Is Silver a Monetary Metal?
Gold is considered a monetary metal but silver is not, by the central or commercial bankers. But the general investing public considers it as having the same wealth preserving qualities as that of a monetary metal. From an investment point of view, silver has the same wealth preserving qualities as gold. Both silver and gold monetarily-influenced price movements have no link to economic growth.
If you came to this page asking "what is the price of silver?" or "how much is silver per ounce?", then I hope you've had your question answered!
Image credit: Sprott Money