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Historically, silver has been used as a tangible commodity
dating back as far as the ancient Egyptians and even the Sumerian Empire.
Modern technological advances have increased the actual industrial
demand for silver, yet the actual monetary value of silver has been
in steady decline since the 1500's. Today, the demand for silver may
be categorized: 30% for photography, 30% for Jewelry, and 40% for industrial
uses. Silver pricing for investment is measured per troy ounce. This
document is designed to briefly highlight the history of silver as
a commodity.
Economic History: The Value of Silver
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Price
History and Current Value of Silver
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- July 18 2003 - $4.71 + 0.05 ( begin tracking
silver price )
- September 25 2003 - $5.20 + 0.49 ( from initial
July silver value )
- November 25 - $5.28 + 0.57 ( from initial July
silver value )
- December 12 - $5.57 + 0.86 ( from initial July
silver value )
- September 5, 2004 - $6.52 +1.81 ( from initial
July 2003 silver value )
- September 16, 2006 - $10.72 ( reset tracking
)
- May 7, 2006 - $13.48 ( +$2.76 )
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The Future of Silver?
...Silver fundamentals made inevitable the rise
so steep,
To obtain more silver, we look to the ocean deep!
The price of silver continues to escalate,
Worldwide consuming industries pay the freight!
Silver shareholders are human moneybags,
What scares them now, not high price tags!
Leveraging thousands of dollars into millions,
Gates, Soros and Buffett make billions!
- Charles Savoie © 2002
silver-investor.com
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The Price of Silver: Six Centuries of History
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1344 - Price of silver @ ~$400.00 per ounce
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1477 - Silver value reaches ~$806.00 per ounce ( all time high
)
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1545 - Potosl mines open in North America ( silver value begins
a gradual decline )
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1780's - Silver value falls below $100.00 per ounce
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1890's - Silver prices fall below $50.00 per ounce
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1980 - Price of silver @ $68.00 per ounce (Hunt Brothers attempt
to corner silver market)
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1998 - Silver valued @ $6.24 per ounce
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2003 - $4.07 per ounce
- Pre 1998 Prices based on the value of the U.S. dollar,
1998, goldinfo.net
Noteworthy Events in History: Silver
Jan 16th - 2001 - Silver Use in Biocidal Applications
Expected to Impact Precious Metals Market
Silver Consumption for Biocide Applications
( excluding water treatment use )
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Year
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Silver Consumption (
troy oz )
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445,000 consumed
1,200,000 estimated
2,140,000 estimated
2,940,000 estimated
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A report published by the Silver
Institute cites a 600% increase in the demand of silver for
biocidal applications.
CPM Silver Yearbook 2007 Summary
The CPM Silver Yearbook report concluded that net
silver investment demand was about 60 million ounces for 2006. This
upward trend is expected to continue
to rise in 2007.
The yearbook cited that investment demand, primarily motivated by
a need for protection against inflation, is strong in India,
the Middle East, and
the West. Part of this interest is due to increased participation
in
the
commodity
market's recent boom.
Silver supply is expected to increase 3% this year, to 520 million
ounces.
The central bank in India has completed its sell off of
about 60 million ounces of silver ( sold over the last few years ).
Warren Buffet sold 130 million ounces prior to the Silver ETF's purchase
of about 130 million ounces.
The Silver Yearbook's conclusion was that silver prices are likely
to continue to rise.
All
Content Copyright 2007 AVRA unless otherwise specified content
copyright 2007 AVRA and managed by -
Las Vegas Website Designers
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Silver
Silver Information
The
Price and Value of Silver ( Pricing Silver Ounces ) ---- Silver & Medical
Applications ----Silver:
Transition Element or Heavy Metal? ----The
Silver Atom
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