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Current Price Of Silver Per Troy Ounce

Rising Uses and Value of Silver

Silver is a whitish precious metal and has been used since about 4000 BC for various purposes such as money, silverware, jewelry and so on.  Silver is measured in troy ounces.  A troy ounce is 31.10348 grams. A troy ounce is about 10 percent more than the avoirdupois ounce.  The avoirdupois is a weight system which is based on a pound which contains 16 ounces and also equals 453.59 grams. The current price of silver per troy ounce, per gram, per ounce or per kilogram is available on the top right hand side of this website and one can know the price in dollars, yen or in any other form of currency.

The price of silver keeps fluctuating having it’s ups and downs.  This depends on the supply and the demand for the precious metal.  Many experts predict that the price of silver is sure to go up in the next ten years due to the shortage of supply and the huge demand for the metal in various electronic applications, medicine and photography. After knowing the current price of silver per troy ounce, one can invest in silver bullion such as silver bars or coins or in silver stocks, exchange traded funds (Silver ETFs) or digital silver products.

Silver or Gold

Many investors are plagued by the question of whether to invest in gold or silver.  There are many reasons why one should invest in silver today.  The current price of silver per troy ounce makes it a very attractive proposition.  During the bull markets, silver has always had a great increase in prices.  In some cases, it has also been noticed that silver has tripled from the current price of silver per troy ounce, whereas gold has only doubled.

Increasing industrial demand

Silver also has plenty of industrial applications, which makes its demand a permanent one, whereas gold is used only for ornamental purposes and aesthetic ones.  In the electronic age, these uses are increasing day by day. The industrial demand will definitely end in increase from the current price of silver per troy ounce.  In fact the supply of silver is not able to keep up with this demand.  Mine production and secondary recovery has fallen short of industrial demand for the past fifteen years.  Even above ground supplies are extremely short.

Easy storage

Hence, considering the current prices of silver per troy ounce, it is recommended that people invest in silver if they are capable of handling the bulk and the weight.  It is popular to invest in silver bars as these are uniform in size and are easy to handle and convenient to store.  Hence, you can store a great deal of wealth in a small storage area.  Always buy silver bars with hallmarks and after checking out the current price of silver per troy ounce.

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Current Price Of Silver Per Troy Ounce

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