Silver Price Lebanon
Conversion : 1 troy ounce = 31.1034768 grams
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Silver Price Lebanon
Lebanon is known officially as the Lebanese Republic. Lebanon shares borders with Syria and Israel and has a land area of just over 4000 square miles, making it the smallest recognized country on the Asian mainland. The official language of Lebanon is Arabic, and the country’s capital is Beirut. The Lebanese Government is a unitary parliamentary multi-confessionalist republic, and the nation has an estimated population of just over six million.
The official currency of Lebanon is the Lebanese Pound. Since the late 1990s, the value of the Lebanese currency has been fixed at 1507.5 pounds per U.S. Dollar. The Lebanese currency is issued and controlled by the nation’s central bank, known as Banque du Liban (Bank of Lebanon). The nation’s central bank was established in 1963 and the bank is headquartered in the nation’s capital city of Beirut. The bank is not only tasked with issuing and maintaining the nation’s currency, but is also in charge of maintaining monetary stability and the nation’s banking system.
Like many other global central banks, the Bank of Lebanon maintains part of its reserves in gold. The central bank reportedly had reserves of 286.83 tonnes as of the second quarter of 2017. Gold is often used by central banks as part of their holdings to promote credibility and stability for their currencies and to add diversification to their holdings.
If you are looking to buy silver in Lebanon, you will likely see prices quoted by the ounce, gram and kilo in the local currency. Prices may also be available in other key global currencies such as U.S. Dollars, Great British Pounds, Japanese Yen or euros. The price of silver is typically quoted by the ounce, gram or kilo.
Unlike gold which is bought for investment or jewelry purposes, silver also derives demand from modern industry. Silver is used in such arenas as solar energy production, chemical production, electronics and more. As more and more uses for silver are discovered, demand for the metal may continue to increase potentially resulting in higher prices.
As an investment, silver may potentially provide many of the same benefits as gold. Not only does the white metal have the potential for price appreciation, but it may also potentially act as a hedge against many economic and geopolitical issues such as inflation, deflation, declining currency values and more.
There are numerous types of silver bullion products. Bullion bars, coins and rounds are the three primary types used by investors. If you are looking to get as many ounces of silver as possible, then bullion bars and rounds may be the best option. Bars are available in numerous weights from less than an ounce to 1000 ounces. Larger weight bars may potentially offer the lowest per-ounce premiums. This is due to the fact that larger bars and smaller bars have relatively similar production costs. Larger bars will, therefore, often carry smaller per-ounce premiums allowing the purchaser to maximize their investment dollars.