Silver is a precious metal with a history of use as money and has been sought by investors from around the globe. Not only do investors buy silver to diversify wealth and assets, but they also buy silver for its many industrial uses. Perhaps the most well-known use of silver is in silverware, in which the silver is used to make cutlery. Two of the world’s most famous silver investors, Warren Buffett and Bill Gates, have both said they believe silver will be the best-performing overall asset over the next decade.
Silver is a shiny, highly conductive precious metal, and is used in a number of applications ranging from jewelry to electronics to dentistry. It’s almost always less expensive than gold, but just how much less expensive is it? That’s a pretty timely question because we’ve noticed that the price of silver per gram in Canada has been trending downward for the last few years, with our last update on the topic being a whopping 20% lower than it is now.
If you are looking to purchase Silver in Canada, you will come across the terms troy ounce and gram. Which one is which? When buying or selling Silver, the price is relative to the Troy ounce. The troy ounce is not a real ounce used for measuring Silver, but rather a term used by the Silver industry as a unit of measure.
The price of silver per gram in Canada is an important factor that should be considered when buying or selling silver and silver bullion. This is because the price per gram of silver greatly affects how much money you could potentially make from your investment. While the price of silver per gram may fluctuate from year to year, the price is currently very low compared to its all-time high of around $50 per oz. This is an excellent opportunity to invest in silver bullion and make some money on your investment before the price of silver per gram increases.
The price of silver per gram in Canada is influenced by several factors. These include demand and supply, as well as the metal’s industrial and monetary applications.
Before you make the decision to invest, there are a couple of things you should know:
The Cost of Silver Per Gram in Canada
Cost of Silver per gram in Canada is currently at CA$1.05
However, the price of silver isn’t always fixed. This is because a lot of factors influence it. Some of these factors include the: demand and supply rate, currency market, geopolitical components, equity market, potential risk, and interest rates.
Where to Buy Silver Per Gram in Canada
While it is true that silver can be sold ‘over the counter,’ you should bear in mind that most things have gone digital. Including the sale of silver.
Some of the sites to buy silver from in Canada include:
- Silver Price
- Gold Broker
- Canada gold
- JM Bullion
It will also help to check for credibility from past buyers and traders.
The Cost of Silver Per Gram in the US
Currently, the price of silver per gram in the US is $0.81
The price of silver is seriously volatile, and this is true even in the US.
With factors as supply, demand, and speculations, this means that fluctuation and store value are ever-changing.
How is the Price of Silver Determined
A lot of factors determine the spot price of silver every day like demand, supply, the volatility of silver, risk perspective, and others.
The spot price is also determined by the forward month’s futures contract with the most volume.
This is mostly done by the COMEX. Which is the primary futures and options market for trading metals such as gold, silver, copper, and aluminum.
The Future of the Silver Market
People indeed tend towards more expensive precious metals when they want to invest. However, silver has factors that make it a worthwhile investment in the long run.
When compared to other industrial metals, silver is a rarer commodity. This helps with its value maintenance.
It is also a versatile metal that manufacturers are always in need of. From making reusable household items, electronics, solar panels, to ornaments like earrings.
The Silver Market in Canada
The areas that produce the most silver in Canada are British Columbia, New Brunswick, Ontario, and Québec.
Although Canada produces over 1000 tonnes of silver annually, its bars are still easily transported and stackable.
The Canadian silver market price is affected by different factors, just as is with all markets.
However, as silver is put to use in the industrial arena, the Canadian silver bars can provide an excellent value that can potentially arise.
How to Buy Silver
There are many options to explore when you want to buy silver.
While there is safety in purchasing the silver stocks of a company. The downside may be in the company tying their stocks to the mining and manufacturing of silver.
Options allow you to buy silver at a certain strike price for a specified amount of time before the call expires.
With options, you can buy silver at a lower price, even if the price increases.
ETFs and ETNs
Exchange-traded funds and Exchange-traded notes are considered the best ways to invest in silver. Because they allow for tracking the price of silver directly.
Other mediums include Mutual Funds and Bullion.
Once you’ve made the decision to buy and sell silver, you should consider these:
- It is advisable to always buy from an authenticated retail outlet that deals with hallmarked products.
- When carrying out any transaction, always get a receipt as proof of purchase. This works for personal safety, as well as for stating the purity and weight of your purchase.
By now, you should be feeling like a pro with the amount of knowledge gained here.
On this note,
Pro, go invest wisely!