Silver price today: Silver rallies hard, according to FXStreet data

Silver prices (XAG/USD) rose on Friday, according to FXStreet data. Silver trades at $29.11 per troy ounce, up 2.30% from the $28.46 it cost on Thursday.

Silver prices have increased by 14.29% since the beginning of the year.

The Gold/Silver ratio, which shows the number of troy ounces of Silver needed to equal the value of one troy ounce of Gold, stood at 82.27 on Friday, down from 83.37 on Thursday.

Investors might use this ratio to determine the relative valuation of Gold and Silver. Some may consider a high ratio as an indicator that Silver is undervalued - or Gold is overvalued - and might buy Silver or sell Gold accordingly. Conversely, a low ratio might suggest that Gold is undervalued relative to Silver.

Global Market Movers: Comex Silver price rises above $29 as buying remains unabated

• Comex Silver price keeps rallying, especially after the release of prices paid by producers in the United States (US) showed that factory inflation continues to decelerate, contrasting Wednesday's red-hot Consumer Price Index (CPI).
• Investors capitalized on that, taking advantage of the dip in precious metals and lifting their prices near year-to-date peaks.
• Further, escalation in the geopolitical tensions between Israel and Iran offers support to the safe-haven Gold price, in turn, bolstering the Silver price rally.

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