Silver (Ag) is a radiant metallic element, boasting a whitish hue and a brilliant sheen, highly prized for crafting jewelry and ornamental pieces. It resides in group 11 of the periodic table, distinguished by its atomic number 47. With a melting point of approximately 960.8°C and a boiling point of 2212°C, silver exhibits exceptional malleability and ductility, making it ideal for shaping into delicate sheets and wires utilized in the creation of intricate art and crafts.
Renowned for its superb electrical and thermal conductivity, silver remains inert to oxygen but gradually reacts with sulfur in the atmosphere, resulting in the formation of silver sulfide, commonly referred to as tarnish. Positioned among the precious metals alongside gold and platinum, silver finds widespread applications globally.
India, the United States, and Vietnam emerge as key importers of silver, while India, China, and Vietnam lead in silver exports.
Silver Price Index: The price of silver fluctuates based on various factors such as demand, market trends, economic conditions, and geopolitical events. Investors closely monitor the silver price index as a gauge of market sentiment and economic stability.
Request for Real-Time Silver Prices: https://procurementresource.com/resource-center/silver-price-trends/pricerequest
Key Details About the Silver Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on the Silver price in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as excel files that can be used offline.
The Silver Price chart, including India Silver price, USA Silver price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting Silver Price Trend:
Silver, a prized precious metal, holds a prominent position in various industries, notably in jewelry manufacturing and electronics. Its versatility extends to the creation of exquisite art pieces and decorative items, sought after for their radiant appearance and aesthetic appeal. Renowned for its remarkable malleability, silver can be fashioned into thin sheets and foils, often utilized to embellish and preserve food products.
Moreover, silver finds extensive use in electronic devices, including switches, circuit boards, screens, and telecommunications equipment, owing to its excellent conductivity. It serves as a catalyst in chemical processes, facilitating the production of ethylene oxide from ethylene. Additionally, silver coatings on electronic conductors and alloying with metals like palladium or nickel enhance their electrical properties, contributing to the functionality of various gadgets.
Key Players:
- Umicore N.V
- American Elements
- MMC Norilsk Nickel PJSC
- Hindustan Zinc Limited
- Korea Zinc Co., Ltd.
- Yunnan Tin Group Company Limited (YTC)
- Polymetal International plc
- Pan American Silver Corporation
News & Recent Development
- Date: February 2, 2023- Silver pricings have outpassed that of gold in the past three months, marking around 25% of growth from October 31, 2022, to January 31, 2023.
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Procurement Resource offers in-depth research on product pricing and market insights for more than 500 chemicals, commodities, and utilities updated daily, weekly, monthly, and annually. It is a cost-effective, one-stop solution for all your market research requirements, irrespective of which part of the value chain you represent.
We have a team of highly experienced analysts who perform comprehensive research to deliver our clients the newest and most up-to-date market reports, cost models, price analysis, benchmarking, and category insights, which help in streamlining the procurement process for our clientele. Our team tracks the prices and production costs of a wide variety of goods and commodities, hence, providing you with the latest and consistent data.
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