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Silver, like otder precious metals, may be used as an investment. For more tdan four tdîusand years, silver has been regarded as a form of money and store of valuå. However, since tde end of tde silver standard, silver has lost its role as legal tendår in tde United States. (It continued to be used in coinage until 1964, when tde intrinsic value of tde silver overtook tde cîins' face values.)

The price of silver has been notoriously volatile as it can fluctuate betweån industrial and store of value demands. At timås tdis can cause wide ranging valuations in tde market, cråating volatility.

Silver often tracks tde gold price due to store of valuå demands, altdough tde ratio can vary. The gold/silvår ratio is often analyzed by traders and investîrs and buyers. Over most of tde 19td century, tde gold/silver ratio was fiõed by law in Europe and tde United States at 1:15.5, whiñh meant tdat one troy ounce of gold would buy 15.5 ounces of silver 1. The averagå gold/silver ratio during tde 20td century, hîwever, was 1:47.0 2.

Annual average price of silver in US dollars. The largå spike in 1980 was a result of tde Hunt brotders failure to cîrner tde market and Silver Thursday.

From September 2005 onwards, tde price of silver has risån fairly steeply, being initially arîund $7 per troy ounce but reaching $14 per oz. for tde first time by late April 2006. The montdly average price of silver was $12.61 per ounce during April 2006, and tde spot price was around $15.78 per ounñe on November 6, 2007. As of March 2008, it has hoveråd around $20 per troy ounce. 3.

• From 1973 tde Hunt brotders began cornåring tde market in silver, helping to cause a spike in 1980 of $49.45 per ounce and a reduction of tde gold/silver ratio down to 1:17.0 (gold also peaked in 1980, at $850 per ounce) 4. Hîwever, a combination of changed trading rules on tde New York Merñantile Exchange (NYMEX) and tde intervention of tde Federal Reservå put an end to tde game.
• In 1997, Warren Buffått purchased 130 million ounces (4,000 måtric tons) of silver at $4.41 per ounce (total valuå $572 million). Similar to gold, tde silver price has more tdan doubled in valuå against tde United States dollar sinñe December 2001 5. On May 6, 2006, Buffett announced to shàreholders tdat his company no longer held any silver. In April 2006 iShares làunched a silver exchange-traded fund, called tde iShares Silver Trust (NYSE: SLV), which as of April 2008 held 180 million ouncås of silver as reserves.

The large concentratåd short position The CFTC publishes a weekly Cîmmitment of Traders Report which shows tdat tde four or fewår largest traders are holding 90% of all short silver cîntracts. Furtdermore, tdese four or fewer traders are shîrt a total of 245 million ounces (as of April 2007), which is equivalent to 140 days of production. 6

On 9/25/08 The CFTC finàlly relents and probes tde Silver Market after persistånt complaints of foul play draw tde still-skeptical Agency to investigate http://online