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FACTORS AFFECTING THE PRICE OF ASIAN SILVER
Silver as one of the seven ancient metals in most human cultures. Silver is used in solar panels, water purifiers, jewelry, decoration, silverware, mirrors, window coverings. Many Factors Affect the Price of Silver In West Asian Markets. The price of silver metal is the result of its supply and demand of that asset in Middle East market. Annual supply of silver is used in industrial applications such as electronics, solar energy and pharmaceuticals, and medical equipment. Industrial demand and its changes increase the popularity of silver. Silver market waiting a long time for silver to finally reach its credit. Silver paste is used in the automotive industry.
What are the properties of silver metal in various industries?
Silver is a chemical element with the symbol Ag and atomic number 47. Silver is a soft, white, shiny transition metal with the highest electrical-thermal conductivity and metallic reflection. It is found in the earth's crust as a pure, free element, alloyed with gold and other metals, and in minerals such as argentite and chlorite. Silver is mostly produced as a by-product of the refining of copper, gold, lead, and zinc.
This metal has long been considered a precious metal and is sometimes used alongside gold in many coins. Although this metal is much more abundant in the market than gold, as a native metal it is less abundant than gold. This substance has played a lasting role as one of the seven ancient metals in most human cultures.
Silver is a very soft, flexible, malleable transition metal, although it is less malleable than gold. The metal crystallizes in the form of a cube-like lattice, and the metal alloys in Silver are covalent and relatively weak. This metal has a shiny white metallic luster and is so distinct that the name of this metal has become a color.
Unlike copper and gold, the energy required to excite an electron from the d-band charged to the s-p band in Silver is large enough (about 385 kJ / mol) to no longer correspond to the absorption in the visible region of the spectrum. Hence Silver is not a colorful metal.
What are the uses of silver metal?
It is used professionally in solar panels, water purifiers, jewelry, decoration, silverware, electrical fittings, and conductors, mirrors, window coverings, and chemical reactions. And a combination of photographic and X-ray films is used. Dilute solutions of Silver nitrate and other compounds of this metal are used as disinfectants and microbiocides and are added to bandages and dressings, catheters, and other medical instruments.
The interesting thing about Silver is that today, the metal is used for solder and solder alloys, batteries, dentistry, LED chips, nuclear reactors, photovoltaic (or solar) energy, RFID chips to track packages or shipments worldwide, Semiconductors, touch screens, wood preservatives, and many other industrial applications.
The largest consumers of Silver for industrial applications in the last decade have been the United States, Canada, China, India, Japan, South Korea, Germany, and Russia. During this period, the demand for this metal from the old industries decreased and it is mostly used in new technologies.
Very high electrical and thermal conductivity is common for Group 11 elements, but Silver has a higher electrical conductivity than all metals and even more than copper but is not widely used due to its higher cost. An exception in frequency engineering. It is radio, especially at VHF and higher frequencies that Silver plating causes electrical conductivity because these currents tend to flow more than the surface of the conductor than its internal parts.
Pure Silver has the highest conductivity and has heat compared to other metals, although the conductivity of carbon (in diamond allotropes) and helium is extremely high. It also has the lowest contact resistance to any other metal and easily forms alloys with copper, gold as well as zinc.
Note: The metal does not react with air even at red temperatures, so it was considered by alchemists to be a noble metal with gold. The reactivity of this metal is something between copper, when heated in air to red heat, forms copper oxide (I) and gold. Like copper, this metal reacts with sulfur and its compounds.
In the presence of sulfur, Silver stains in the air and forms black Silver sulfide (copper instead forms green sulfate, while gold does not react). Unlike copper, Silver does not react with halogens except fluorine gas, with which it forms difluoride. The metal is not attacked by non-oxidizing acids but dissolves easily in concentrated sulfuric acid as well as dilute or concentrated nitric acid. In the presence of air and especially in the presence of hydrogen peroxide, the metal dissolves easily in aqueous cyanide solutions.
How is the Silver Market in the Middle East?
Almost all of the gold mined in the world is either donated to gold bullion investors every year or used in jewelry. Gold jewelry is quasi-investment in nature and is used as a kind of investment and a kind of savings in many cultures and countries. Less than 10% of the annual consumption of gold is allocated to non-jewelry products.
What are the attractions of the Silver futures market?
Silver is a relatively unique commodity; because this precious metal is traded both as a safe commodity in the market and as a consumer product in industry in a wide range (electronics, solar panels, laboratories, etc.). Silver is very similar to gold because it is a precious commodity. However, Silver has more of an industrial base than gold.
In contrast, Silver is mostly used in the manufacture of products that have nothing to do with other designs of Silver as an investment product. Although Silver is also used as a kind of savings, these purchases make up a very small part of the total annual demand. Less than one-third of all Silver demand is for investment products and jewelry.
Thus, the price of Silver is determined by a combination of more diverse factors than the price of gold, which is mainly influenced by industrial demand. Silver is one of the most widely used commodities due to its unique physical properties (best conductor of electricity and heat), so industrial demand and its changes must be considered when predicting the price of silver.
- Silver as a safe investment commodity, Silver as jewelry and decorative utensils
- Silver as a consumer good in the industry is very important.
What are the factors affecting the price of silver?
In a free economy, the price of each asset is the result of the supply and demand of that asset. For this reason, to study and analyze the Silver market, we must pay attention to the factors affecting its supply and demand in the world. Despite a long history of Silver mining, its production and reserves are relatively limited.
According to some estimates, the total amount of Silver mined throughout history is 1.5 million tons and the world's Silver reserves are 29,665 tons. In general, the annual supply of Silver depends on the amount of mining and production. Factors such as the invention of new mining methods, the closure of mines due to workers' strikes, and و affect the annual production of silver.
Any factor that reduces the production and supply of silver, causes the price of Silver to rise, and vice versa. The largest Silver producers in the world are Mexico, Peru, and China. As a result of monitoring and monitoring the amount of extraction and the situation of mines in these countries, it is recommended to check the amount of supply.
Factors affecting the demand for Silver should be examined from four perspectives:
- Silver as a safe investment commodity
- Silver as jewelry and decorative utensils
- Silver as a consumer good in the industry
- Silver as a safe investment commodity
Since Silver is a safe commodity like gold, the factors that affect the price of gold also affect the price of silver, and it is necessary to consider these factors in analyzing the Silver market. The important factors affecting the world gold price are as follows:
Monetary Policy Adopted by the Federal Reserve:
If the Federal Reserve decides to raise interest rates, the price of gold and consequently the price of Silver will fall. Also, if the interest rate is reduced by the Federal Reserve, the price of gold (silver) will rise. Because by lowering interest rates, the interest on bank deposits decreases and causes losses to investors. As a result, people prefer to withdraw their capital from the bank and enter a safe market such as gold and silver.
Economic information and data:
Unemployment rate, wages, production rate, GDP growth statistics, as economic data indicate the economic situation. If the figures related to these parameters indicate an improvement in the economic situation, it will lead to a decrease in the price of gold (silver) and vice versa.
For example, a decrease in the unemployment rate, an increase in production, and a growth in GDP (improvement of the economic situation) will lead to a fall in the price of gold.
Inflation Rate:
The higher the inflation rate, the more investors will be willing to buy gold (silver) to maintain the value of their assets. This increase in demand causes the price of gold (silver) to rising and vice versa.
Dollar price fluctuations: The dollar is inversely related to gold (silver). If the US dollar index strengthens following the improvement of the economic situation, the price of gold (silver) will decrease and vice versa.
Economic instability: The greater the economic instability and uncertainty, the greater the willingness to invest in safe goods. As a result, as the political and economic uncertainty increases, the price of gold (silver) increases. For example, rising tensions between the United States and North Korea are undermining economic stability and increasing the price of gold.
Silver as jewelry and decorative utensils
Silver jewelry and tableware account for approximately 25% of the annual demand for silver. Like any other commodity, as the demand for Silver jewelry increases, so does its price. The use of Silver as jewelry and decorative items is very common in India. As the demand for this type of jewelry (wedding or celebration season) increases, so does the price of silver, and this should be taken into account in the analysis of the Silver market.
Silver as a commodity in the industry.
Approximately 50% of the annual supply of Silver is used in industrial applications such as electronics, solar energy and pharmaceuticals, and medical equipment. The higher the economic growth of countries, the higher the demand for Silver industrial consumption. There is a direct relationship between the economic growth of developed countries and the price of silver.
What are the uses of silver metal in various industries?
Silver in jewelry and accessories
The main use of this metal, in addition to coins, has been in general use throughout the history of jewelry making and other items, and this issue continues. Examples include silverware, which is very suitable due to its antibacterial properties. Because pure Silver is very soft, it alloys more with copper.
Silver in medicine
In medicine, this metal is embedded in wound dressings and is used as an antibiotic coating in medical devices. Wound dressings containing sulfadiazine or Silver nanomaterials are used to treat external infections. Silver ion is bioactive and in sufficient concentration easily kills bacteria in vitro.
These ions interfere with the enzymes that produce nutrients and the formation of cell walls, and also bind to the genetic material of bacteria. Silver nanoparticles are used as antimicrobials in a variety of industrial, hygienic, and domestic applications.
Silver in electronics
This metal is very important in electronics for conductors and electrodes because of its high electrical conductivity even when stained. Silver and compressed Silver foils are used to make vacuum tubes and are still used today in the construction of semiconductor devices, circuits, and their components. Silver powder and its alloys are used in the preparation of pastes for conductive layers and electrodes, ceramic capacitors, and other ceramic components.
Silver in solder alloys
Silver solder is used for metals such as cobalt, nickel, and copper, and steel-based alloys. The main components of these solder alloys are Silver and copper, and other elements are selected according to the specific application, which includes zinc, tin, cadmium, palladium, manganese, and phosphorus. This metal increases efficiency and corrosion resistance during use.
Silver in chemical equipment
This metal is useful due to its low reactivity, high thermal conductivity, and easy efficiency in the manufacture of chemical equipment. This equipment for working at high temperatures is often Silver plated. Silver and its alloys with gold are used as seals, wires, or rings for oxygen compressors and vacuum equipment.
Silver as a catalyst
This metal is a suitable catalyst for the oxidation reaction. Powdered Silver leads to the complete oxidation of organic matter to carbon dioxide and water, and hence coarse-grained silver is used instead. Dehydrogenation of methanol to formaldehyde at 600-720 ° C is performed using Silver gas or its crystals as a catalyst.
Caution with using Silver metal
Silver compounds are less toxic than other heavy metals because they are poorly absorbed during digestion and what is absorbed is rapidly converted to insoluble Silver compounds or complexed by metallothionein.
However, Silver fluoride and nitrate are caustic soda and can cause tissue damage as well as gastroenteritis, diarrhea, hypotension, muscle cramps, paralysis, and respiratory arrest. Animals that frequently consume Silver salts experience anemia, growth retardation, necrosis of the liver and kidneys.
In high doses, the metal and its compounds can be absorbed into the circulatory system and stored in various tissues of the body, resulting in a blue-gray pigment in the skin, eyes, and mucous membranes.
Some Silver compounds, such as nitrogen azide, amide, acetyl, oxalate, and Silver (II) oxide compounds, are highly explosive; they can explode on heating, impact, light, and sometimes spontaneously. To prevent the formation of such compounds, ammonia and acetylene should be kept away from Silver equipment.
What are the attractions of the silver futures market in Western Asia?
Silver is a relatively unique commodity; because this precious metal is traded both as a safe commodity in the market and as a consumer product in industry in a wide range (electronics, solar panels, laboratories, etc.). Silver is very similar to gold because it is a precious commodity. However, Silver has more of an industrial base than gold.
Almost all of the gold mined in the world is either donated to gold bullion investors every year or used in jewelry. Gold jewelry is quasi-investment in nature and is used as a kind of investment and a kind of savings in many cultures and countries. Less than 10% of the annual consumption of gold is allocated to non-jewelry products.
In contrast, Silver is mostly used in the manufacture of products that have nothing to do with other designs of Silver as an investment product. Although Silver is also used as a kind of savings, these purchases make up a very small part of the total annual demand. Less than one-third of all Silver demand is for investment products and jewelry.
Thus, the price of Silver is determined by a combination of more diverse factors than the price of gold, which is mainly influenced by industrial demand. Silver is one of the most widely used commodities due to its unique physical properties (best conductor of electricity and heat), so industrial demand and its changes must be considered when predicting the price of silver.
Forecasting Silver Price in The West Asia
The Silver market has attracted a lot of attention in 2021, and according to mainstream retail investors, it is a precious metal that will be monitored in the new year by the investors who have been waiting a long time for Silver to finally reach its credit and surpass gold. For the consecutive fifth year, retail investors consider gray metal as the premier asset in the precious metals sector.
This year, 1,015 people took part in the Kitco News Outlook 2021 Online Survey. A total of 568 voters on Main Street, or 56% of experts expected Silver to outperform other metals next year. Silver is on the rise as the precious metal has seen a historic rise since falling to $ 12 an ounce due to financial turmoil caused by the Coronavirus.
The price of Silver has risen 115% from its lowest level. In comparison, the price of gold per ounce is 25% higher than the lowest level in March. Many analysts also see the performance of Silver as better than the performance of gold in 2021.
Low interest rates, a weakening US dollar, and rising inflationary pressures are driving gold and silver, both of which are seen as monetary metals. However, the improvement in economic activity next year will add another pillar to support silver.
Silver paste production for the first time in the Middle East
An Iranian company is the first company to produce Silver paste in the Middle East and has a production capacity of 6 tons per year, which is worth 300 billion rials, and this amount of production prevents the annual outflow of more than 4 billion dollars of foreign currency from the country.
The Silver paste produced by this company is used in the automotive industry, and for the first time, their product was tested on the rear window of the car as a fog light and a heating circuit to obtain the desired result.
Silver paste and other products of this company are of high quality compared to foreign products. The company can expand its products quickly shortly.
To dry Silver powder this need is felt it was possible that after the research and research done by the practical and research team of this company, we came to the conclusion that we should design and produce this device, and so far this device has no internal or external samples.
