Silver price today: Silver rebounds, according to FXStreet data

Silver prices (XAG/USD) rose on Wednesday, according to FXStreet data. Silver trades at $28.49 per troy ounce, up 1.37% from the $28.11 it cost on Tuesday.

Silver prices have increased by 11.86% 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 83.97 on Wednesday, down from 84.77 on Tuesday.

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 resumes uptrend as geopolitical risks loom

• Silver price appreciates as traders adopt caution on expectations of Israel responding to Iran's attack.
• The decline in the US Dollar (USD) provides support to advance Silver demand.
• The price of the white metal could struggle as the Fed may adopt a hawkish stance on its monetary tightening.
• On Tuesday, Federal Reserve Chair Powell remarked that recent data suggests minimal advancement in inflation this year, implying a prolonged period before reaching the 2% target.
• A stronger US Dollar tends to make silver more expensive to buy for investors using other currencies, which could impact the demand for the white metal.

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