Select Language

Silver price today: Silver falls, according to FXStreet data

blockHeadVisual
  1. HOME
  2. Get information
  3. World FX news
  4. Silver price today: Silver falls, according to FXStreet data

World FX news

search
Breaking news

Silver price today: Silver falls, according to FXStreet data

  • X
  • facebook
  • LINE
  • RSS
  • X
  • facebook
  • LINE
  • RSS
New update 2024.09.03 18:31
Silver price today: Silver falls, according to FXStreet data

update 2024.09.03 18:31

Silver prices (XAG/USD) fell on Tuesday, according to FXStreet data. Silver trades at $28.38 per troy ounce, down 0.48% from the $28.52 it cost on Monday.

Silver prices have increased by 19.27% since the beginning of the year.

Unit measure Silver Price Today in USD
Troy Ounce 28.38
1 Gram 0.91

The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, stood at 88.21 on Tuesday, up from 87.67 on Monday.

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.)

Date

Created

 : 2024.09.03

Update

Last updated

 : 2024.09.03

Related articles

Show more

Writer

FXStreet

Financial media

arrow
FXStreet

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?
No loading Yes loading

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.

Previous article

prev

NZD/USD Price Prediction: Retreat back inside range brings uptrend into doubt

Next article

EUR/CHF: To crawl higher towards its crucial resistance - Société Generale

prev

Most viewed

Australian Dollar declines as USD recovers

The AUD/USD declined by 0.40% to 0.6790 in Friday's session, pressured by growing expectations of interest rate cuts by the Federal Reserve (Fed).
New
update2024.09.21 05:17

Gold skyrockets to record-high above $2,600 on Fed rate cut speculation

Gold prices climbed past $2,600, recording new all-time highs amid increasing speculation that the Federal Reserve will continue to lower borrowing costs and heightened tensions between Israel and Hezbollah in the Middle East.
New
update2024.09.21 05:07

Canadian Dollar flattens on tepid Friday

The Canadian Dollar (CAD) found little underpinning momentum on Friday, and the CAD is poised to wrap up the end of the trading week close to where it started.
New
update2024.09.21 04:37

US Dollar rises as sellers take a breather, political jitters

The US economy is experiencing a moderate slowdown, but indicators suggest that economic activity remains robust overall.
New
update2024.09.21 03:19

Dow Jones Industrial Average squeezes higher on Friday

The Dow Jones Industrial Average (DJIA) edged back into the top end during the Friday market session, keeping bids north of 42,000 and sticking close to this week's all-time record peaks.
New
update2024.09.21 03:18

Mexican Peso extends losing streak amid risk aversion

The Mexican Peso extended its losing streak against the Greenback to three consecutive days, with the currency set to sustain weekly losses.
New
update2024.09.21 02:57

Fed's Bowman: Would have liked a smaller first cut

Federal Reserve (Fed) Board of Governors member Michelle Bowman clarified on Friday why the policymaker voted against the Fed's 50 bps jumbo rate cut this week.
New
update2024.09.21 02:34

Fed's Waller: 50 bps cut was the right move

Federal Reserve (Fed) Board of Governors member Christopher Waller noted on Friday that while the Fed's decision to cut interest rates by an accelerated 50 bps, the Fed's data-dependent approach could mean that the next meeting will be a pause as policymakers await further data.
New
update2024.09.21 02:26

EUR/GBP Price Analysis: Sellers hit the gas and take further ground

In Friday's session, the EUR/GBP pair continued to decline, losing 0.15% to close at 0.8385.
New
update2024.09.21 00:56

GBP/USD Price Forecast: Gains modestly after hitting record high above 1.3300

The Pound Sterling registered minimal gains versus the US Dollar during the North American session after reaching a two-and-a-half-year high of 1.3340 on an upbeat retail sales report in the UK.
New
update2024.09.21 00:24

Disclaimer:arw

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.

arw
  • Facebook
  • Twitter
  • LINE

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

I agree
share
Share
Line

Line
Facebook

Facebook
X

Twitter
Cancel