Silver (Chemical Symbol-Ag) is a brilliant grey-white metal that is soft and malleable.
Silver has unique properties such as its strength, malleability, ductility, electrical and thermal conductivity, sensitivity, high reflectance of light, and reactivity.
The main source of silver is in lead ore, although it can also be found associated with copper, zinc and gold and produced as a by-product of base metal mining activities.
Secondary silver sources include coin melt, scrap recovery, and dis-hoarding from countries where export is restricted. Secondary sources are price sensitive.
Silver is unique amongst metals due to the fact that it can be classified as both a precious metal and an industrial metal.
Today, silver is sought as a valuable and practical industrial commodity and as an investment.
Silver is an important element of global monetary reserves.
It is an effective portfolio diversifier.

Silver is predominantly traded on the London Bullion Market Association (LBMA) and COMEX in New York.
LBMA, as the global hub of over-the-counter (OTC) trading in silver, is its main physical market. Comex is a futures and options exchange, where most fund activity is focused.
Silver is invariably quoted in the US dollars per troy ounce.

India's silver demand averages 2500 tonnes per year, whereas the country's production was around 206.95 tonnes in 2010.
Nearly 60% of India's silver demand comes from farmers and rural India, who store their savings in silver bangles and coins.

Economic events such as national industrial growth, global financial crisis, recession, and inflation affect metal prices
Commodity-specific events such as the construction of new production facilities or processes, unexpected mine or plant closures, or industry restructuring, all affect metal prices.
Governments set trade policy (implementation or suspension of taxes, penalties, and quotas) that affect supply by regulating (restricting or encouraging) material flow.
Geopolitical events involving governments or economic paradigms and armed conflict can cause major changes.
A faster growth in demand against supply often leads to a drop in stocks with the government and investors.
Silver demand is underpinned by the demand from jewellery and silverware, industrial applications, and overall industrial growth.
In India, the real industrial demand occupies a small share in the total industrial demand of silver. This is in sharp contrast to most developed economies.
In India, silver demand is also determined to a large extent by its price level and volatility.