MCX Silver is a brilliant grey-white metal that is soft and malleable. The mining of silver began some 5000 years ago, with the first mine being in Anatolia (modern-day Turkey). The principal sources of silver are the ores of silver, silver-nickel, lead, and lead-zinc obtained from Peru, Bolivia, Mexico, China, Australia, Chile, Poland, and Serbia. Peru, Bolivia, and Mexico have been mining silver since 1546, and are still major world producers. Just over half of the mined MCX Silver comes from Mexico, Peru, China, and Australia, the four largest producing countries. Primary mines produce about one-third of the world silver, while around two-thirds come as a by-product of gold, copper, lead, and zinc mining. The top three silver-producing mines are Cannington (Australia), Fresnillo (Mexico), and San Cristobal (Bolivia). In Central Asia, Tajikistan is known to have some of the largest silver deposits in the world.
MCX Silver has innumerable applications in art, science, industry and beyond. At the highest level, though, demand for silver breaks down into three important categories: silver in industry, investment, and silver jewelry and decor. Together, these three areas represent more than 95% of the annual silver demand. With unique properties, including its strength, malleability, and ductility; its electrical and thermal conductivity; its sensitivity to and high reluctance of light; and the ability to endure extreme temperature; it is an element without substitution. Commercial-grade fine silver is at least 99.9% pure, and parities greater than 99.999% are available.
Factors Influencing the price of MCX Silver
► Economic events such as India’s industrial growth, the global financial crisis, recession, and inflation affect prices.
► Geopolitical events involving governments or economic paradigms and armed conflict can cause major changes.
► Commodity-specific events, such as the construction of new production facilities, introduction of new processes, unexpected mine or plant closures, and industry restructuring, too affect the market.