Silver (Ag) is a precious metal that’s around 1/80 the price of gold.
Demand for silver comes equally from both industrial and investment avenues (significantly more than gold's 11% industrial demand). This unique balance means that the economic outlook for the world economy can directly affect the price.
The U.S. Geological Survey (2015) states the global usage of silver is:
- Electrical & Electronics - 29%
- Coins & Medals - 25%
- Photography - 8%
- Jewellery & Silverware - 7%
- Other - 31%
The London bullion market (LBMA) is regarded as the industry benchmark with the spot price set once daily at 12:00pm GMT in US dollars. COMEX Futures are usually quoted online as they are transparent and trade 24 hours a day.
Market Index tracks the COMEX Futures.