Volatility in the silver market in 1989 was at the lowest level in 12 years, and the average New York price of $5.54 per ounce was the second lowest since 1978, the Silver Users Association reports. The difference between the high and low price was $1.12. Analysts cite a perception of low inflation, a strong dollar, and high interest rates as important factors behind the calmest silver market of the '80s.

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