Created
: 2024.04.29
- English
- English
- What's Myforex
- Share
- Use tools
- Get information
- What's New
- Help center
- About us
- Customer support
- Terms and policies
-
-
PortfolioShare your portfolio and performance in real time -
Events & contestsEvents and contests held by retail brokers around the world
-
-
Real-time spread comparisonCompare spreads of major retail brokers in real time -
Volatility analysisVisualize volatility as a measure of daily market activity -
Swap point comparisonCompare buy and sell swap values for each broker by symbol -
Market rates & chartsCheck prices for all instruments offered by each broker -
IndicatorsProviding in-house developed indicators for MT4/MT5 -
Trading calculatorsCalculation tools for each broker to help you trade
-
-
World FX newsLatest news on forex and cryptocurrencies from around the world -
Broker informationTrading information of retail brokers worldwide -
MetaTrader4/5 user guideUser guide collection for the latest MetaTrader4/5 -
Economic calendarRelease calendar for indicators from official sources of major economies
Silver price today: Silver rises, according to FXStreet data
World FX news
Breaking news
Silver price today: Silver rises, according to FXStreet data
New
2024.04.29 18:06
2024.04.29 18:06
2024.04.29 18:06
Silver prices (XAG/USD) rose on Monday, according to FXStreet data. Silver trades at $27.39 per troy ounce, up 0.64% from the $27.22 it cost on Friday.
Silver prices have increased by 7.54% since the beginning of the year.
| Unit measure | Today Price |
|---|---|
| Silver price per troy ounce | $27.39 |
| Silver price per gram | $0.88 |
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 85.38 on Monday, down from 85.91 on Friday.
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.
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.
Last updated
: 2024.04.29
Related articles
Gold price jumps as US CPI inflation fuels Fed rate cuts
2024.05.16 13:23Silver Price Analysis: XAG/USD rallies sharply as bulls' target $30.00
2024.05.16 05:24Gold price soars to three-week high amid easing inflation, rate cut hopes
2024.05.16 04:42Silver Price Analysis: Reaches new high for May but pulls back after becoming overbought
2024.05.15 23:22Gold recovers as simmering geopolitical risks keep safe-haven demand buoyant
2024.05.15 19:20Silver price today: Silver rises, according to FXStreet data
2024.05.15 17:35
FXStreet is a forex information website, delivering market analysis and news articles 24/7.
It features a number of articles contributed by well-known analysts, in addition to the ones by its editorial team.
Founded in 2000 by Francesc Riverola, a Spanish economist, it has grown to become a world-renowned information website.
Was this article helpful?
We hope you find this article useful. Any comments or suggestions will be greatly appreciated.
We are also looking for writers with extensive experience in forex and crypto to join us.
please contact us at [email protected].
Thank you for your feedback.
Thank you for your feedback.
Most viewed
USD/INR rises to near 83.50 due to the upward correction in the US Dollar
The USD/INR pair edges higher to near 83.50 during the early European session on Thursday.
New
2024.05.16 16:21Mexican Peso resumes uptrend after US data miss
The Mexican Peso (MXN) is trading flat in most pairs on Thursday as traders pause after the Peso's rally on Wednesday.
New
2024.05.16 16:09USD/CAD rebounds above 1.3600, focus on US data
The USD/CAD pair recovers some lost ground near 1.3615 on Thursday during the early European trading hours.
New
2024.05.16 15:41Forex Today: US Dollar stays under pressure following post-CPI selloff
Here is what you need to know on Thursday, May 16: The US Dollar (USD) is struggling to stage a rebound after suffering large losses against its major rivals following the April inflation data from the US on Wednesday.
New
2024.05.16 15:17EUR/USD hovers near 1.0900 with an improved risk appetite
EUR/USD treads water to continue its winning streak for the fourth session, trading around 1.0880 during the Asian hours on Thursday.
New
2024.05.16 15:09Gold price jumps as US CPI inflation fuels Fed rate cuts
The gold price (XAU/USD) gains traction amid the weaker US Dollar (USD) on Thursday.
New
2024.05.16 13:23AUD/JPY drops to near 103.00 after the mixed Aussie employment data
AUD/JPY snaps its three-day winning streak, trading around 103.00 during the Asian hours on Thursday.
New
2024.05.16 13:12Japan's Shindo: The economy is expected to continue a moderate recovery
Japan's Economy Minister Yoshitaka Shindo said on Thursday that Japanese economy is expected to continue moderate recovery.
New
2024.05.16 11:37Australian Dollar retreats from four-month highs after higher Unemployment Rate
The Australian Dollar (AUD) snapped its three-day winning streak after the higher-than-expected Aussie Unemployment Rate on Thursday, which rose to 4.1% in April, from the previous reading of 3.9%.
New
2024.05.16 11:35NZD/USD gains traction above 0.6100, eyes on US data
The NZD/USD pair gains momentum around 0.6120 during the early trading hours on Thursday.
New
2024.05.16 11:16Disclaimer:
All information and content provided on this website is provided for informational purposes only and is not intended to solicit any investment. Although all efforts are made in order to ensure that the information is correct, no guarantee is provided for the accuracy of any content on this website. Any decision made shall be the responsibility of the investor and Myforex does not take any responsibility whatsoever regarding the use of any information provided herein.
The content provided on this website belongs to Myforex and, where stated, the relevant licensors. All rights are reserved by Myforex and the relevant licensors, and no content of this website, whether in full or in part, shall be copied or displayed elsewhere without the explicit written permission of the relevant copyright holder. If you wish to use any part of the content provided on this website, please ensure that you contact Myforex.
Myforex uses cookies to improve the convenience and functionality of this website. This website may include cookies not only by us but also by third parties (advertisers, log analysts, etc.) for the purpose of tracking the activities of users. Cookie policy
