Silver price today: Silver rises, according to FXStreet data

On Monday, silver prices (XAG/USD) increased, according to FXStreet data. The price per troy ounce rose to $64.24, marking a 1.08% gain from $63.55 on Friday. Over the past year, silver prices have dropped by 9.63%. The Gold/Silver ratio, indicating how many ounces of silver are needed to match the value of one ounce of gold, was 67.68 on Monday, down from 68.32 on Friday.

Silver is a valuable metal frequently traded by investors, who often consider it as a secure store of value and medium of exchange. While less popular than gold, silver can be used for portfolio diversification due to its intrinsic value or as a hedge during inflation. Traders can acquire physical silver in the form of coins or bars, or trade it via Exchange Traded Funds that mirror its international market price.

Numerous factors influence silver prices, including geopolitical tensions, economic uncertainty, and fluctuations in the US Dollar. Silver typically rises when interest rates are low and when the US Dollar weakens, as it is priced in dollars (XAG/USD). Industrial demand, particularly in sectors like electronics and solar power, can also impact silver prices.

Silver's price movements often mirror those of gold, as both serve as safe-haven assets. The Gold/Silver ratio may help determine the relative value of the two metals, with a high ratio potentially indicating that silver is undervalued compared to gold.