Silver (Ag) is a chemical element/metal with an atomic number of 47 which is naturally present in abundant mineral-rich soils. It is found in a mixed form, typically as a crystal. The metal has many properties, like being lustrous, soft, ductile, and malleable, along with being an excellent conductor of heat and electricity. Silver does not oxidize when exposed to air but is tarnished in case it reacts with air and hydrogen sulfide. It has a molecular weight of 107.868 g/mol and a density of 10.5 g cm−3 . Its respective melting and boiling points are 960.8 °C (1,861.4 °F) and 2,212 °C (4,014 °F).
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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 trend, 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.
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Industrial Uses Impacting Silver Price Trend:
The silver industry is witnessing immense growth owing to its broad range of applications in making silverware and precious jewellery items. As it is a great reflector of light, it is use to make mirrors. Furthermore, it finds application in the electrical industry for making printed circuits which employ silver paints and silver electrical contacts in computer keyboards. In addition to its use in the electric industry, it is also use to make dental alloys and solder and brazing alloys. In photography, it is employ in the form of silver bromide and iodide since they are light-sensitive.
Additionally, silver offers antibacterial properties; hence its nanoparticles are use for clothing, leading to the prevention of bacteria from digesting sweat and causing a pungent smell. Silver can also be used as currency and as a catalyst in some processes. Other uses of the commodity include its application in the production of solar panels, air conditioners, dentistry, and water purification. An antibiotic coating on medical devices and in high-capacity zinc long-life batteries.
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:
- 22 May 2023: Following the withdrawal of INR 2000 banknotes in India, the market saw an uptrend in bullion purchases. The demand for silver and gold jumped significantly as consumers turned to buy the commodities leading to a price rise.
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