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rianna
Joined: 22 Sep 2007
Posts: 5
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Posted: 22/09/2007
Post subject: Reading Silver Ounces |
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Hello, really need some help. Trying to read silver price charts like this one found here for viewing yearly historical charts and data for silver. Yearly averages.
http://www.kitco.com/charts/historicalsilver.html
It lists US prices per ounce and lists the ounces like this 4,000 etc. Is 4 the oz? If so what are the rest of the 000's considered. Grams? Please let me know, thanks very much. |
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Jonathan Franks
Site Admin
Joined: 12 Sep 2006
Posts: 190
Location: London
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Posted: 08/10/2007
Post subject: re: Reading Silver Ounces |
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I'm not sure exactly what you mean.
When I choose to view the prices as data, I get months along the top, days down the side and the price in the middle. This price is the amount of dollars for one ounce of silver.
Does that answer your question? |
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rianna
Joined: 22 Sep 2007
Posts: 5
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Posted: 09/10/2007
Post subject: re: Reading Silver Ounces |
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Thanks a lot Jonathan. I'm talking about when you select a checkbox to view the items as data, not as charts. It lists the silver weight as a single digit, then with 4 digits after it, for example 4.0000
I'm trying to figure out if the first part is the ounces 4 and the last 4 digits what do those represent? Please someone let me know, thanks very much. |
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squirl71
Joined: 30 Sep 2007
Posts: 14
Location: edinburgh
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Posted: 09/10/2007
Post subject: re: Reading Silver Ounces |
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Hi Rianna,
I think the 4 is the $ not the silver weight - if you view it as 'charts and data' you will see that the 5.0123 etc is the price per ounce so maybe it is dollars/ cents. Hope this is helpful  |
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rianna
Joined: 22 Sep 2007
Posts: 5
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Posted: 09/10/2007
Post subject: re: Reading Silver Ounces |
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Thanks a lot you guys, gosh I was way off wasn't I....
So are the charts and data reflecting prices per every 1 ounce? |
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uncle vic
Moderator
Joined: 25 Sep 2006
Posts: 183
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Posted: 10/10/2007
Post subject: re: Reading Silver Ounces |
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Rianna - here in the USA silver commodity prices are reported in the financial press in US dollars per troy oz....but in quanties of several thousand troy oz. Currently the prices are about $US 13.50 + or - a few cents a troy oz, and this is for pure (99.9% silver) Silver prices are high worldwide now, and that will affect the prices of antique sterling (92.5% pure) silver to some extent.
Uncle Vic |
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rianna
Joined: 22 Sep 2007
Posts: 5
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Posted: 10/10/2007
Post subject: re: Reading Silver Ounces |
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Thanks very much, so for the link I gave here and others like it:
http://www.kitco.com/charts/historicalsilver.html
That is supposed to be a mostly accurate metals prices database and information on silver per year.
What prices for silver are they reflecting when they list an average price per year in their data return? Is that for a troy ounce then or something else? For instance if it says a price was an average of 5.0005 for a certain year, its not saying what that price is for. If it is for troy ounces or something else? Hope someone can help, thanks. |
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squirl71
Joined: 30 Sep 2007
Posts: 14
Location: edinburgh
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Posted: 10/10/2007
Post subject: re: Reading Silver Ounces |
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Hi Rianna
The average reflected is the Dollar price per troy ounce.
Average per month ( total of daily price, divided by days of that month to give average price per troy ounce for that month)
Cumulative average ie price per 2/3/4 months etc
Then average for the year Total of average per month divided by 12 months, ( basic arithmetic I think) |
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rianna
Joined: 22 Sep 2007
Posts: 5
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Posted: 11/10/2007
Post subject: re: Reading Silver Ounces |
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Thats my answer then! Thanks everybody for everything and for taking the time to help get me my answer!! Now I'm off to see how troy oz compare to regular ounces.
Best wishes.... |
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