Current Price of silver
The price of silver of January 8th 2010 was $18.45 that is a whooping 350% increase since 2000 when then the price of silver was only around $5 ounce.
Below are some graphs to prove it
2 main reason why the price of silver is increasing
1)demand for silver is increasing
2)investor buys it as a hedge against the downturn in the economy
Demand for silver is increasing therefore it is effecting the price of silver, the global electronic industry has been the main driving force behind this as there is ever increasingly use silver when producing computers, phones, chips etc. Furthermore silver is being use in medicine The power of it is a act that silver is an infection fighting agent.
Due to the silver longevity in its worth many people are buying silver bullion bars and coins , just look at China , China is on a frenzy of buying most of American gold and silver commodieties they are now are the 5th largest gold holders in the world, and they are encouraging there citizens to buy silver ...I personally think they are setting up their economy to be be the wealthiest in world in the near future after all if everyone is selling there gold and silver as the prices are high at the moment and China and their citizen are buying bullions of gold and silver, when hyper inflation kicks in and the weakening of the US DOLLAR you can be sure people be looking to gold and silver, which brings me to my next point.
2)investor buys bullion silver and gold as it is a hedge against the downturn in the economy, this goes back to what I was saying before when a economy currency is devalues such as the US dollar is currently you see almost a domino effect the markets starts to drop , and unemployment rises , and inflations starts to increase as the goverment still needs people to pay taxes so they can get out of debt , by increasing tax everyone else will just increase their price of goods.
However when the above happens the current price of silver and gold increases as smart investors will know that gold and silver is the way currency are measured by and has true buying power, not the dollar , but the actual thing that the dollar is measured buy hence the current price of silver will continue to sore through 2010 and 2011.