Silver price today: Silver falls, according to FXStreet data

Silver prices fell on Monday, according to FXStreet data, trading at $68.80 per troy ounce, down 0.25% from $68.98 on Friday. The price has dropped by 3.21% since the beginning of the year. The Gold/Silver ratio stood at 67.46 on Monday, up from 66.74 on Friday, indicating that more ounces of Silver were needed to equal the value of one ounce of Gold.

Silver is a precious metal often traded among investors as a store of value and medium of exchange, despite being less popular than Gold. Investors may turn to Silver to diversify their portfolio due to its intrinsic value or as a potential hedge during high-inflation periods. Silver prices can be influenced by various factors, including geopolitical instability or fears of a deep recession, which may drive up the price due to its safe-haven status, though less so than Gold.

As a yieldless asset, Silver tends to rise when interest rates are low and falls with higher interest rates. The US Dollar also plays a significant role, with a strong Dollar generally keeping Silver prices lower, while a weaker Dollar can push prices up. Other factors such as investment demand, mining supply, and recycling rates can also impact Silver prices.

Silver has numerous industrial uses, particularly in electronics and solar energy due to its high electric conductivity. Demand changes in major economies like the US, China, and India can also drive price fluctuations. Silver tends to move with Gold, as both are considered safe-haven assets. The Gold/Silver ratio helps determine the relative valuation of the two metals, with a high ratio potentially indicating an undervalued Silver or overvalued Gold.