Silver is the second most important precious metal, far behind gold. The world’s most important currency, the U.S. dollar, was officially pegged to the price of silver from 1792 until the mid-twentieth century, indicating that the store-of-value function also plays a significant role in silver. The precious metal, which has a particularly low electrical resistance and good thermal conductivity, is used primarily in the electronics and jewelry industries. In addition, silver plays an important role in the field of photochemistry.
Trade data on Silver
Product symbol: SI
Trade: CME GROUP (CME Globex, CME ClearPort, Open Outcry / New York)
Contract size: 5000 troy ounces
Trade price: USD and cents per troy ounce
Minimum trade movement: 0.005 USD per fine ounce
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