Silver was mined more than 5000 years ago in Asia-Minor and later by the Greeks who mined it as a currency during the height of the Roman empire. Silver is a shiny white metal with extraordinary qualities as it is both malleable and pliable and even kills bacteria. It is also very rare along-with Gold and other platinum groups and has been resorted to for investment and store of value for the middle echelons even though it has failed to live up to its stature as an investment metal in the long term compared to gold , stocks and bonds.
Silver is element 47 and its symbol is “Ag”. It is both a Metal and a Currency in the Forex market and quoted against the US Dollar and the INR. Find quotes in Eforex India as XAG/USD & XAG/INR.
It’s unique properties, including its strength, malleability, and ductility; its electrical and thermal conductivity; its sensitivity to and high reflectance of light; and the ability to endure extreme temperature; it is an element without substitution. Economic events like financial crisis, industrial growth, recession, inflation all affect the price of silver. However, being such a versatile metal, it has not been able to live up to the hype and value for gold which remains unexplained.
Eforex India quotes prices of Silver as per the London Metal Exchange (LME) against the USD and can be used for benchmarking and hedging purposes. We also give API of the prices of all Metals which can be integrated to your software for pricing and valuation. Exporters, importers and those in the silver & bullion value chain needs to manage their hedging by proper Risk management techniques and value it Marked to Market (MTM) hedged with silver futures on a daily basis to manage their portfolio.