Silver trading

Trading with spot silver is fascinating to many market players. Silver had been taken as the major money unit for the most part of states since approximately 500 year B.C., when people learnt how to purify silver and first silver coins began to circulate till the beginning of XX century. This metal used to play a prominent role in trading relations throughout the world.

Apart from being used as the means of settlement between people, silver was applied in other fields. In some countries silver was considered to be sacred metal. In ancient times it was used to purify water and now this metal is used in medicine. From 13th century people make dishes from silver and earlier alchemists applied this metal in their experiments.

England was the first country which refused from silver standard and switched to Golden standard in 19th century. It made its trading partners to do the same. USA also played role in change of the standard, but the most part of states tied their currencies to the Pound of sterling. So by the end of the 20th century silver had become nominal currency. Only Japan hold its positions till 1935. But it does not mean that the world refused from silver at all. Silver coins are still in circulation and represented in each bank of the world.

Check also:

Spot silver specifications

Volatile contracts

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