Every week we provide insights into popular assets and hot questions, so you can easily learn more about the investment market in bite-sized pieces.
In this Markets in Focus we take a closer look at Silver.
What is Silver
The term Silver refers to a precious metal commonly used in the production of jewelry, coins, electronics, and photography. It has the highest electrical conductivity of any metal and is, therefore, a highly valuable substance. Silver is used in many global cultures and religions in traditional ceremonies and worn as jewelry during important occasions.
Silver trading history
Silver mining began more than 5000 years ago, with the precious metal initially used as a commodity in the Babylonian empire. Silver was adopted as a currency in the Greek and Roman empires, as well as other civilizations like some Asian countries, where silver coins were used in international trade.
In the United States, the minting of Silver dollars started in 1794, they remained in circulation for 80 years until the introduction of the gold standard for the value of the dollar reduced the importance of Silver as a currency.
Recent Silver price history
Like Gold, the price of Silver is determined per troy ounce, approximately 31.1 grams expressed in US dollars.
The price of the precious metal doubled from around $10 to $20 during the 2008 financial crisis, and went on to approach $50 in 2011 for the first time since 1980. Now the price is just below $28.
Why trade Silver CFDs?
Trading Silver Contracts for Difference (CFDs) is a popular method for exposure to Silver price movements without owning the physical metal. Here are three reason you should consider trading Silver.
Leverage:Potential benefit from 1:10 leverage on Silver CFDs allowing you for larger positions with less capital.
Short Selling:Silver CFDs enable profit from both rising and falling Silver prices, simplifying shorting compared to physical silver.
Liquidity:Silver CFDs offer good liquidity, ideal for real-time trading and various holding periods.
Trade Silver at Change!
Go to the App and also benefit from the opportunity to trade Silver with 10x leverage.
You can trade Silver from Sunday 22:00 to Friday 21:00 with a daily break between 21:00-22:00.
Until next week!
