Silver has a history of more than 4000 years as a means of currency and value storage. 18 16, Britain implemented the "gold standard law", and determined that British pound notes were only linked to gold, thus Britain became the first country in the world to cancel the status of silver currency at the national level.
1971August 15, US President Nixon announced that the US dollar was decoupled from gold, the Bretton Woods system collapsed, and the US government began to liberalize the price control of gold and silver. The price of silver can fluctuate freely with the market demand, and the intrinsic value of silver coins also exceeds the face value.
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Influencing factors of silver price
Silver has three attributes: monetary attribute, investment attribute and commodity attribute, which also determines that the driving factors of silver price will be complex and diverse. In addition to the relationship between supply and demand, the price of silver is also influenced by geopolitical, economic, financial and physical silver supply factors.
Geopolitical factors have the most direct and obvious influence on the price of silver, which is a factor that short-term investors of silver must pay attention to and analyze. Major political events in the world, wars in important countries, major emergencies and the adjustment of the security strategy of core countries will have a great impact on the gold price, thus affecting the operation of the silver price to a great extent.
Geopolitical instability will affect the attractiveness of credit currency, thus affecting the price of gold and silver. When economic and political turmoil occurs, the credibility of credit currency will be affected to varying degrees, thus changing the attractiveness of credit currency, and market funds will flow into commodity markets and safe-haven markets in large quantities.