Silver is a glossy, flexible and attractive white metal having many amazing qualities. It is primarily used in jewellary. It is used to produce electricity and also used in medicine. These characteristics make silver a precious metal and essential in universal financial system.
Silver is also used as an investment. Traders take so much interest to invest in silver. Traditionally gold and silver costs demonstrate a strong positive association. Several traders focus on gold-silver relative prices for buying and selling.
Silver is essential to many industries so strength in the global economy should cause to higher prices. Demand and supply ratio also affects on silver price.
Silver futures contract are merchandised on Chicago mercantile exchange. Silver as an investment needs good understanding of some features like storage costs and interest rates that effects the silver prices.