Silver
 

About Silver (XAG/USD)

Commodity trading provides a golden opportunity those looking for ways to invest their money in online trading. Historically, many farmers, businesspersons, etc. practiced commodity trading for significant amounts of profit.

 

PCM International understands that trading commodities online requires a good amount of knowledge on each specific commodity that is being traded. From studying tips for trading commodities, to staying updated with the economic events around the world, traders need to assure that they take advantage of this profit-seeking opportunity. PCM International offers a brief history of silver trading as well as the information and facts that are necessary to know before stepping into the world of unlimited success; commodity trading.

Silver is considered one of the most versatile metals available for trading.  Silver is used both industrially and as a hard asset. Uses of silver have been numerous both in the past and in today’s modern world. To provide a brief history of silver, this precious metal was used as a form of money and jewelry in the past.

The most traded commodities all have specific features that make them useful and unique. Some unique properties of silver include its malleability, conductivity and its white color. Although silver is less rare than gold, it moves with relation to the gold prices and is one of the factors affecting currency rates.  

Being considered as one of the rare commodities to trade, silver derives its price from its availability on the open market, therefor, it is important to consider silver world production numbers for trading silver successfully.

Access to real-time silver charts and forecasts provided by PCM International is essential for successful CFD trading. In addition, PCM International provides you with the most recent and updated world economic news that will affect silver prices. Traders can seek profit from the fluctuations that are created by such news. Traders can also benefit from the advanced CFD trading strategies available to them through our professional trading platforms.

 In conclusion, trading silver is a balanced combination of focusing on consumer needs and the demands of the currency markets. The table below is provided for further details about the commodity.

History of Silver:

Silver has been used for thousands of years for ornaments and utensils, trade, and as the basis for many monetary systems. Its value as a precious metal was long considered second only to gold. The word "silver" appears in Anglo-Saxon in various spellings, such as seolfor and siolfor. A similar form is seen throughout the Germanic languages. Silver has been known since ancient times. Mentioned in the Book of Genesis, slag heaps found in Asia Minor and on the islands of the Aegean Sea indicate it was being separated from lead as early as the 4th millennium BC using surface mining.

Trading time:

XAG/USD can be traded on our platform on the following times

12:00 am to 11:00 pm (Central European Time) Monday to Friday.

10:00 pm to 09:00 pm (GMT) Sunday to Friday.

Contract Specifications for Silver

Class

Symbol

Description

Commodity

XAG/USD

Silver quoted in U.S. Dollars

Standard Tradable Quantity (also called a LOT)

5000 troy ounces (1 standard lot)

Minimum Tradable Quantity (the fraction of lot available to trade)

50 troy ounces (1 troy ounce = 31.10348 grams approximately)

Base Currency (Currency used for margin, P&L and other calculations)

United States Dollars

Tick Size (The least incremental change in the price of the index)

0.01 (example price: $18.82 changes to $18.83 at least)

 

CFD Category: 
Precious-Metals