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Silver has attracted man's interest for thousands of years. In ancient times, silver deposits were plentiful on or near the earth's surface. Relics of ancient civilizations, include jewelry, religious artifacts, and food vessels formed from the durable, malleable metal.
In 1792, silver assumed a key role in the United States monetary system when Congress based the currency on the silver dollar, and its fixed relationship to gold. Silver was used for the nation's coinage until its use was discontinued in 1965.
At the turn of the century, an even more important economic function was emerging for silver, that of an industrial raw material.
Today, silver is sought as a valuable and practical industrial commodity, and as an appealing investment. The largest industrial users of silver are the photographic, jewelry, and electronic industries.
Newly mined metal provides most of the needed supply, and Mexico, the United
States, and Peru are the primary producers. Secondary silver sources include
coin melt, scrap recovery, and dishoarding from countries where export is
restricted. Secondary sources are particularly price sensitive. more... |
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Daily Chart - Spot Month |
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C=Last
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Margins |
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Non-Member Speculative Initial Margin Ratio |
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1:35 |
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Non-Member Speculative Initial |
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$7,763 |
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Non-Member Speculative Maintenance |
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$7,763 |
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Clearing Member/Member/Hedger Initial Margin Ratio |
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1:00 |
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Clearing Member/Member/Hedger Initial and Maintenance |
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$5,750 |
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