Silver price today: Silver rises, according to FXStreet data

Silver prices climbed on Monday, according to FXStreet data. The precious metal traded at $65.46 per troy ounce, marking a 1.17% increase from its $64.70 level on Friday. Silver's value has dropped 7.91% since the start of the year. The Gold/Silver ratio, indicating the number of silver ounces required to equal the value of one ounce of gold, was 67.11 on Monday, down from 67.65 on Friday.

Silver, a highly traded commodity, is often used as a store of value and a medium of exchange. While less popular than gold, investors may purchase silver to diversify their portfolios due to its intrinsic value or as a hedge against inflation. Silver can be bought in physical form, such as coins or bars, or traded through exchange-traded funds that mirror its international market price.

Price fluctuations are driven by various factors, including geopolitical instability or recession fears, which can drive silver prices higher despite its safe-haven status. As a non-yielding asset, silver typically appreciates when interest rates are low and declines when rates rise. Its price is also influenced by the US Dollar, with a strong dollar typically weakening silver prices and a weaker dollar potentially boosting them.

Other factors such as investment demand, mining supply, and recycling rates also impact silver prices. Silver is widely used in industries like electronics and solar energy due to its high electrical conductivity. A surge in demand for silver applications could increase prices, while a decline in demand would lower them. Silver prices often follow gold's movements, as both are considered safe-haven assets.

The Gold/Silver ratio can indicate the relative valuation of the two metals, with a high ratio suggesting silver may be undervalued compared to gold.