Silver price today: Silver falls further, according to FXStreet data

Silver prices (XAG/USD) fell on Tuesday, according to FXStreet data. Silver trades at $26.85 per troy ounce, down 1.27% from the $27.20 it cost on Monday.

Silver prices have increased by 5.42% 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 85.78 on Tuesday, up from 85.57 on Monday.

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 corrects further amid Middle East de-escalation

• Silver price on Comex extends its downside near $26.95 on Tuesday. 
• The easing fear of wider tensions in the Middle East improves market sentiment.
• Iranian Foreign Minister Hossein Amirabdollahian stated on Friday that Iran does not plan to respond to Israel's retaliatory strike, while Israeli authorities remained mostly silent. 
• Reduced Fed rate cut speculation boosts the USD and drags the white metal lower. 
• The chance of a June cut has fallen to 15%, and the odds of a July cut have dropped below 45%. A September cut is not fully priced in, with the probability falling below 70%, according to the CME FedWatch Tool. 

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