Silver price today: Silver falls, according to FXStreet data

Silver prices fell on Monday, according to FXStreet data, trading at $63.22 per troy ounce, down 2.14% from $64.60 on Friday. Since the beginning of the year, Silver prices have decreased by 11.06%. The Gold/Silver ratio stood at 68.15 on Monday, up from 67.31 on Friday. Silver, a precious metal often used as a store of value and medium of exchange, is traded by investors.

Despite being less popular than Gold, it can be an option for diversification due to its intrinsic value or as a hedge during high-inflation periods. Factors such as geopolitical instability, lower interest rates, US Dollar behavior, investment demand, mining supply, recycling rates, and industrial demand all affect Silver prices.

Silver is widely used in industries like electronics and solar energy because of its high electric conductivity. When Gold prices rise, Silver typically follows suit, as both are considered safe-haven assets.