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Commodity profile - Silver M
Latin Name
General characterstics
The trading unit of the silver-M is 5 kg and purity is 999. Just over half of mined silver comes from Mexico, Peru and United States, respectively, the first, second and fourth largest producing countries, the third largest being Australia.
1.The major use of silver is as a precious metal. Jewellery and silverware are traditionally made from sterling silver.
2.Silver is also used in medals, denoting a second place.
3.The vast majority of the world's silver is used in industrial applications, and the United States is a leading consumer.
Market moving factor
1.The price of Silver is dictated by forces of demand, supply and consumption.
2.The price of silver is influenced by changes in factors such as inflation (real and perceived), changing value of paper currencies and fluctuation in deficits and interest rates
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