XAG – Silver
Silver is a precious metal used in coins, jewelry, electronics, utensils, solar panels, photography and more, and has the highest electrical conductivity of any metal. Silver has been used as currency for thousands of years. Like gold, silver is often used to understand market movements. As an investment, silver is available in coins and bullion. Silver is very malleable, is very reflective, and has an atomic number of 47. Silver trades with the currency code of XAG.
Value of Silver
Throughout history, many countries held a silver standard. By the 1700s, a move to the gold standard began that continued through the 20th century. Silver now trades globally 24 hours a day, with spot price set by COMEX, through the New York Mercantile Exchange.((http://www.jmbullion.com/charts/silver-prices/ Retrieved 13 January 2015.)) Once the spot price is set, brokers may add markups to the price before an investor can purchase.
Currently, silver is valued at approximately 1/60 the value of gold.
Globally, there are some 520,000 metric tons of silver held in reserves as of 2013.((http://www.statista.com/statistics/273649/silver-reserves-of-countries/ Retrieved 13 January 2015.)) The largest reserves of silver are:
Any opinions, news, research, analyses, prices, other information, or links to third-party sites are provided as general market commentary and do not constitute investment advice. FXCM will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance on such information.
FXCM Research Team
FXCM Research Team consists of a number of FXCM's Market and Product Specialists.
Articles published by FXCM Research Team generally have numerous contributors and aim to provide general Educational and Informative content on Market News and Products.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interests arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed here.