One troy ounce of.999 pure silver is worth $20.87 as of late June 2014. This price fluctuates daily based on market conditions, but has kept within three dollars of this figure for the past year.
The most frequent unit of measurement for the amount of silver in relation to the price of silver is the troy ounce. Although it is commonly referred to as an ounce, it is actually 1.09714 ounces. It is the most convenient method of weighing silver.
Silver was one of the most valuable metals in the nineteenth century. It is now one of the least expensive precious metals in proportion to its pricing in 2014. The price of silver is predicted to climb as the global supply of gold decreases and new gold is discovered less frequently.
Silver prices increased dramatically in 2005. They increased in price from roughly $5 to around $11 per ounce. Silver’s price continuously grew from 2005 to 2014, with a major jump to $50 per ounce in 2011. Silver prices are projected to continue to rise after 2014, as demand for the metal grows.
Silver is a good investment. It will take a long time to see any kind of apparent profit, but it will be a profitable investment when silver prices are higher than they have ever been. Investing in silver while prices are around $20 per ounce is a great method to make a low-cost investment and then sell it for a higher return years later.