Silver price today: Silver falls, according to FXStreet data

Source Fxstreet

Silver prices (XAG/USD) fell on Thursday, according to FXStreet data. Silver trades at $32.08 per troy ounce, down 0.53% from the $32.25 it cost on Wednesday.

Silver prices have increased by 11.03% since the beginning of the year.

Unit measure Silver Price Today in USD
Troy Ounce 32.08
1 Gram 1.03

The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, stood at 89.05 on Thursday, up from 88.76 on Wednesday.

Silver FAQs

Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets.

Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold's. As a yieldless asset, Silver tends to rise with lower interest rates. Its moves also depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAG/USD). A strong Dollar tends to keep the price of Silver at bay, whereas a weaker Dollar is likely to propel prices up. Other factors such as investment demand, mining supply – Silver is much more abundant than Gold – and recycling rates can also affect prices.

Silver is widely used in industry, particularly in sectors such as electronics or solar energy, as it has one of the highest electric conductivity of all metals – more than Copper and Gold. A surge in demand can increase prices, while a decline tends to lower them. Dynamics in the US, Chinese and Indian economies can also contribute to price swings: for the US and particularly China, their big industrial sectors use Silver in various processes; in India, consumers’ demand for the precious metal for jewellery also plays a key role in setting prices.

Silver prices tend to follow Gold's moves. When Gold prices rise, Silver typically follows suit, as their status as safe-haven assets is similar. The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, may help to determine the relative valuation between both metals. Some investors may consider a high ratio as an indicator that Silver is undervalued, or Gold is overvalued. On the contrary, a low ratio might suggest that Gold is undervalued relative to Silver.

(An automation tool was used in creating this post.)

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Dogecoin (DOGE) Rockets to $0.20 — Can It Go Even Higher?Dogecoin started a fresh increase above the $0.180 zone against the US Dollar.
Author  NewsBTC
Jul 11, Fri
Dogecoin started a fresh increase above the $0.180 zone against the US Dollar.
placeholder
Japanese Yen hangs near multi-week low against USD as trade jitters temper BoJ rate hike betsThe Japanese Yen (JPY) recovers slightly from a three-week low touched against a broadly retreating US Dollar (USD) during the Asian session on Monday.
Author  FXStreet
22 hours ago
The Japanese Yen (JPY) recovers slightly from a three-week low touched against a broadly retreating US Dollar (USD) during the Asian session on Monday.
placeholder
Bitcoin Hits New Highs — But Why Is Retail Interest Lagging Behind Previous Bull Markets?On Monday, July 14, Bitcoin (BTC) continued its multi-year rally, climbing toward the $120,000 mark and setting yet another all-time high.
Author  TradingKey
22 hours ago
On Monday, July 14, Bitcoin (BTC) continued its multi-year rally, climbing toward the $120,000 mark and setting yet another all-time high.
placeholder
Silver Price Forecast: XAG/USD reaches fresh 14-year highs near $39.00Silver price (XAG/USD) extends its three-day winning streak, marking fresh highs since September 2011 and trading around $39.00 per troy ounce during the European hours on Monday.
Author  FXStreet
17 hours ago
Silver price (XAG/USD) extends its three-day winning streak, marking fresh highs since September 2011 and trading around $39.00 per troy ounce during the European hours on Monday.
placeholder
U.S. Q2 earnings season is coming, JPMorgan and Citi are the first to appearThe US stock Q2 earnings season kicked off, and JPMorgan, Citigroup (C-US), Wells Fargo, Goldman Sachs will be the first to release their results before the market opens on Tuesday.
Author  TradingKey
16 hours ago
The US stock Q2 earnings season kicked off, and JPMorgan, Citigroup (C-US), Wells Fargo, Goldman Sachs will be the first to release their results before the market opens on Tuesday.
Related Instrument
goTop
quote