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USV - Silver - A Precious And Industrial Metal Melts Down
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Silver was sitting near the bottom end of a trading range that has held the price between $16.34 and $19.54 per ounce since mid-August on March 11. Silver wears two hats as a precious and industrial metal. Silver is also a commodity that attracts speculative interest. Silver rose to over $50 per ounce in 1980. In 2011, it peaked at just below that level. Silver traded below $10 per ounce from 1985 through 2005, for two decades. Since 2009, the price has not traded below $10. After hitting a peak at $49.82 in April 2011,