Silver price today: Silver rises, according to FXStreet data
Silver prices (XAG/USD) rose on Thursday, according to FXStreet data. Silver trades at $65.88 per troy ounce, up 0.87% from the $65.31 it cost on Wednesday.
On Thursday, silver prices (XAG/USD) climbed, according to FXStreet data. The precious metal traded at $65.88 per troy ounce, up 0.87% from $65.31 on the previous day. Silver prices have slipped by 7.32% since the start of the year. The Gold/Silver ratio, indicating the ounces of silver needed to match one ounce of gold, was 67.35 on Thursday, up from 67.18 the prior day.
Silver is a sought-after commodity among investors, often used as a store of value and medium of exchange. Traders may purchase physical silver or trade it through instruments like Exchange Traded Funds, which mirror its price on global markets. Silver prices fluctuate due to various factors, including geopolitical tensions or recession fears, which can boost its safe-haven status.
As a yield-free asset, silver tends to climb when interest rates are low, and its price is also influenced by the US Dollar's performance, being priced in dollars (XAG/USD). Its industrial demand, particularly in electronics and solar energy, can also affect its value. The Gold/Silver ratio may indicate whether silver is undervalued compared to gold or vice versa.
Written by urgent.news from FXStreet's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
