The price of Silver has historically seen times of both lower and higher prices as the global spot prices are constantly updating. However, in general, the price of Silver has been on an upward trend since the early 2000s. This can be attributed to a variety of reasons, including retail and industrial. While the future for the price of Silver is unknown, it seems likely that the price will continue to fluctuate as these factors influence the market.
Investment demand is one of the main drivers of the price of Silver. This is because investors see Silver as a valuable commodity that can be used as a hedge against inflation that will hold its value better than other investments, like stocks or bonds.
Industrial demand is also a major factor in the price of Silver because it is used in a wide range of industries, from electronics to photography and many more in between. As global industrial production continues to grow, so does the demand for Silver.
The price of Silver is also largely determined by the futures markets. A futures market is an auction market for buying and selling commodities and futures contracts on a predetermined future date and set price; this is to lock in future deliveries of the commodity or security of a price set today.
All of these factors are likely to continue to influence the price of Silver in the future, so it is expected that the price will continue to shift as the supply and demand changes naturally occur.
