Wednesday, June 30, 2010

The historical price of silver - from the Renaissance

Here is an interesting long term historical chart of silver showing prices from 1344 to 1998. The prices are in 1998 United States Dollars.

In 1477 the silver price peaked long term at USD 806. The lowest price of silver was USD 4.73 in 1992. Silver prices has been declining for centuries. 
 
 
 
 
 
 
 
 
 







Source: The above chart courtesy of Sharelynx. Click on the chart for a larger image.

Notice the how the Gold/Silver Ratio, with right scale, showed in yellow color on the chart, has been rising for 600 hundred years.

As you see, silver prices, like gold prices, were relatively low during the French Revolution / Napolionic wars, WWI and WWII. Could this be because individuals, nations and organizations sell their silver holdings at war time?

You can have access to our full analysis with Elliott Wave counting for gold , silver and other precious metals by subscribing to Elliott Wave Technician's premium service at http://www.elliottwavetechnician.ning.com/.

Geir Solem
http://www.elliottwavetechnician.blogspot.com/
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