This means it lends itself well to a number of industrial uses including telecommunications, medical and energy technologies.īecause over 50% of silver demand is from industry (rather than for investment purposes) its price can be far more affected by economic factors than gold. It is extremely malleable, ductile and is the most conductive of the metals. Silver has been referred to as the 'indispensable metal' so far is its reach across industry. It is both a commodity and a monetary metal. When it comes to demand, silver is the most versatile of the precious metals given its prominent role in both the investment and industrial spheres. This increases the pressure on primary mine supply. It is also worth noting that often it can be uneconomical to extract and recycle small amounts of silver from technological items such as mobile phones, so very often it is not recycled. How much is mined and how much is recycled can fluctuate depending on economic outlook, energy costs, and reclamation values. Whilst mining still accounts for a large proportion of supply, the amount sourced from recycling is also significant. Silver has a larger supply volume than gold, but it is increasingly hard to extract. Silver is often a co-product during the mining of other metals, such as copper. The price is reflective of the equilibrium between supply and demand for both physical silver and silver derivatives. It is traded across the globe and is one of the largest markets by volume. Silver trades 24 hours a day, Monday to Friday. This has been done for the convenience of investors in Ireland who want to buy and sell silver coins and silver bars using their Euros. Whilst silver is traded on the international markets in US dollars, this price has been converted using the exchange rate between the Euro and the US dollar. The current spot price for an ounce of silver is quoted at the top of this page. GoldCore quotes a live silver spot price per ounce in Ireland, with silver coins and bars available for immediate delivery or storage. Silver Price FAQs What is the Silver Price Today in Ireland? The silver price is traditionally quoted in troy ounces. It is the benchmark price on which all retail investment silver products are based. The live silver price is known as the silver spot price. If you're looking to buy ounce units of silver, GoldCore gives you the option with a range of silver coins and silver bullion bars. You can also view the silver price chart according to a number of different time frames including the last 24 hours to see the current silver price all the way up to ten years of historical silver spot prices. When viewing the silver price chart on GoldCore, you may pick between four different currencies below the chart: Euros, British Pounds, US Dollars, and Australian Dollars. We provide real-time silver price updates and historical data which allow you to see how the silver spot price changes over time and to identify long-term pricing trends. Our silver price chart shows the current silver bullion price, giving you the opportunity to track the price of silver and spot the best time to make your investment.
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