Created
: 2024.09.20
- 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
2024.09.20 18:32
2024.09.20 18:32
2024.09.20 18:32
Silver prices (XAG/USD) rose on Friday, according to FXStreet data. Silver trades at $31.21 per troy ounce, up 1.38% from the $30.79 it cost on Thursday.
Silver prices have increased by 31.17% since the beginning of the year.
| Unit measure | Silver Price Today in USD |
|---|---|
| Troy Ounce | 31.21 |
| 1 Gram | 1.00 |
The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, stood at 83.55 on Friday, down from 84.02 on Thursday.
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.)
Last updated
: 2024.09.20
Related articles
Silver price today: Silver rises, according to FXStreet data
2024.09.20 18:31Silver Price Forecast: XAG/USD bulls might now aim to reclaim $32.00 and retest YTD peak
2024.09.20 17:55Gold hits new highs on expectations of global cuts to interest rates
2024.09.20 17:36Silver Price Forecast: XAG/USD maintains position near $31.00 near two-month highs
2024.09.20 14:03India Gold price today: Gold rises, according to FXStreet data
2024.09.20 13:36Gold price consolidates near record high, bullish potential seems intact
2024.09.20 11:18
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
BoE remains cautious for the near future - Commerzbank
Yesterday, members of the Monetary Policy Committee voted eight to one to leave the Bank Rate unchanged at 5.0%.
New
2024.09.20 20:30Crude Oil consolidates around at $710 as after rally halts
Crude Oil consolidates at around $71 on Friday after popping higher by nearly 3% the previous day as a peace or ceasefire deal in the Middle East seems further away than ever. Israel stepped up its offensive after the rare pager and walkie-talkie explosion
New
2024.09.20 20:21USD/CNH: A downward bias towards 7.0500 - UOB Group
The US Dollar (USD) is likely to trade with a downward bias towards 7.0500, UOB Group FX analysts Quek Ser Leang and Lee Sue Ann note.
New
2024.09.20 20:15USD/JPY rallies to near 144.00 as BoJ delivers diplomatic policy guidance
The USD/JPY delivers a sharp rally to near 144.00 in Friday's European session.
New
2024.09.20 20:08USD/CHF Price Prediction: Unfolding bullish leg within range
USD/CHF is trading within a range which began forming after the August lows.
New
2024.09.20 20:01BoJ avoids surprising the market in September - Commerzbank
The Bank of Japan avoided another market surprise at its September meeting, following economists' and markets' expectations, leaving the key rate unchanged, Commerzbank's FX Analyst Volkmar Baur notes.
New
2024.09.20 20:00CEE: Empty end of the week, market preparing for central banks - ING
The last day of the week should be quiet with an empty calendar in the CEE region.
New
2024.09.20 19:45USD/JPY: USD can break above 144.00 - UOB Group
Upward momentum is building; if the US Dollar (USD) can break above 144.00, it could trigger a stronger recovery towards 145.50, UOB Group FX analysts Quek Ser Leang and Lee Sue Ann note.
New
2024.09.20 19:33EUR/GBP Price Forecast: Finds temporary support at the bottom of a range
EUR/GBP has extended its break out of a rising channel and fallen to the major support level at 0.8385, which lies at the bottom of a broader range for the pair.
New
2024.09.20 19:30NZD/USD: Has to break above 0.6270 to test 0.6310 - UOB Group
The New Zealand Dollar (NZD) is expected to trade in a 0.6200/0.6270 range.
New
2024.09.20 19:25Disclaimer:
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
