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Price Of Silver Today

Examining the Price of Silver Today

Posted by staff writer

 

In the year 2000, the silver bullion price was less than $5 per ounce, and as of the writing of this article the price of silver today is hovering right around $20.50. So what does this tell us about the viability of silver as part of an overall investment strategy? Here we will take a closer look at what the silver commodity prices could mean for investors going forward in this rocky economic climate.


The Price of Silver Today


If you’re familiar with the commodities market, especially as it applies to silver, you have no doubt heard of the infamous Hunt brothers, who during the 1970s attempted to drive up the price and corner the market on silver—and were later convicted in federal court in 1987 for attempting to manipulate the commodities market. During their scheme the spot price of silver went from just under $2 an ounce to nearly $50 an ounce, culminating in “Silver Thursday”—a day in 1980 when the Hunt brothers and thousands of other silver investors went belly up when the Feds advised banks to stop lending money to speculators.


While the price of silver today is nowhere near the high created by the Hunt brothers’ scheme, it has been on the rise for several years running. Harsh economic times, such as the ones we are facing currently in the global financial crisis, combined with the steady decline of the US dollar, makes investing in silver an attractive and rather safe opportunity.


In examining why the price of silver today continues to rise, you needn’t look further than the simple laws of supply and demand. More and more stock investors, wary about the way the economy is heading, are beginning to pull out of their stock investments and have decided instead to focus on the commodities market, specifically precious metals like silver. This increased demand has caused a major shortage in the silver supply, and as we all know, when supply is low, regardless of the commodity, the price goes up. Oliver's stance is that current silver prices do not reflect the shortage of physical bullion.


And it’s not like there’s going to be a reduction in silver demand anytime soon. Since ancient times silver has been considered a precious metal, and today its uses range from jewelry to silverware to electrical circuits. In fact, just last year various industries in the United States alone used over 500 million ounces of silver. Couple this with an economic forecast that is looking bleak once again for 2011, and you have an investment opportunity which will make the price of silver today look like a bargain in the not too distant future.

 

 

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