Silver price today: Silver rises, according to FXStreet data
Silver prices (XAG/USD) rose on Monday, according to FXStreet data. Silver trades at $58.38 per troy ounce, up 1.37% from the $57.59 it cost on Friday.
Silver prices climbed on Monday, according to FXStreet data, reaching $58.38 per troy ounce, marking a 1.37% increase from the $57.59 it cost on Friday. The precious metal has fallen by 17.88% since the start of the year. The Gold/Silver ratio, indicating how many ounces of Silver are needed to equal one ounce of Gold, was 69.56 on Monday, down from 70.19 on Friday.
Silver is a popular investment option for its intrinsic value and as a hedge during high-inflation periods. Investors can acquire physical Silver, such as coins or bars, or trade it through Exchange Traded Funds. Silver's price can fluctuate due to various factors, including geopolitical instability, recession fears, lower interest rates, US Dollar strength, investment demand, mining supply, and recycling rates.
The metal's industrial applications, particularly in electronics and solar energy, also impact its price. As with Gold, Silver prices often mirror each other due to their status as safe-haven assets.
Written by urgent.news from FXStreet's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
