Silver price today: Silver rises, according to FXStreet data

Source Fxstreet

Silver prices (XAG/USD) rose on Wednesday, according to FXStreet data. Silver trades at $38.02 per troy ounce, up 0.85% from the $37.70 it cost on Tuesday.

Silver prices have increased by 31.58% since the beginning of the year.

Unit measure Silver Price Today in USD
Troy Ounce 38.02
1 Gram 1.22

The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, stood at 87.87 on Wednesday, down from 88.18 on Tuesday.

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
Gold price moves closer to three-week peak amid modest USD downtickGold price (XAU/USD) attracts some dip-buying during the Asian session on Tuesday and reverses a major part of the previous day's retracement slide from a nearly three-week high.
Author  FXStreet
Yesterday 08: 26
Gold price (XAU/USD) attracts some dip-buying during the Asian session on Tuesday and reverses a major part of the previous day's retracement slide from a nearly three-week high.
placeholder
Japan’s bond market is falling apart in real time after bond values crashJapan’s bond market is falling apart in real time. The 30-year Japanese bond yield jumped to 3.20%, a fresh record.
Author  Cryptopolitan
Yesterday 10: 14
Japan’s bond market is falling apart in real time. The 30-year Japanese bond yield jumped to 3.20%, a fresh record.
placeholder
EUR/USD sinks towards 1.1600 as US inflation rises and crushes Fed cut hopesThe EUR/USD fell some 0.55% on Tuesday after the latest US inflation report revealed that prices are edging higher, justifying the Federal Reserve's current policy stance.
Author  FXStreet
13 hours ago
The EUR/USD fell some 0.55% on Tuesday after the latest US inflation report revealed that prices are edging higher, justifying the Federal Reserve's current policy stance.
placeholder
Japanese Yen remains vulnerable near multi-month low against USDThe Japanese Yen (JPY) hit a fresh low since April against its American counterpart during the Asian session on Wednesday.
Author  FXStreet
11 hours ago
The Japanese Yen (JPY) hit a fresh low since April against its American counterpart during the Asian session on Wednesday.
placeholder
Baidu's Stocks Surge in US and Hong Kong as Apollo Go Teams Up with Uber for Global ExpansionChinese search engine giant Baidu announced a multi-year partnership with ride-hailing titan Uber.
Author  TradingKey
4 hours ago
Chinese search engine giant Baidu announced a multi-year partnership with ride-hailing titan Uber.
Related Instrument
goTop
quote