Silver Price Hit The Roof

Silver Price Hit The Roof,According to commodities-research CPM Group, there were close to 2.2 billion ounces of silver in the world. While it may sound huge, the number of ounces stood at 12 trillion in 1900. Today, there is less than 1 billion ounces of above ground refined silver. More than 90% of all the silver that has ever been mined, has been consumed by the global photography, technology, medical, defense and electronic industries.Gold once again hit a new record as tensions in the Middle East rumbled on. It reached $ 1,518.10 (£ 919.10) an ounce while silver hit $ 49.31. Oil rose then, with Brent climbing to $ 124.75 a barrel before falling prices have climbed nearly back.Silver 60 per cent so far this year, after jumping more than 80 per cent last year outpacing gold's 7 per cent rise and the 10 per cent gain in the 19-commodity index Reuters-Jefferies CRB.