Experience a surge in your portfolio with the latest update on Silver prices (XAG/USD) as it rose on Friday, according to FXStreet data. Silver is now trading at $30.17 per troy ounce, marking a 0.97% increase from Thursday’s price of $29.88.
With a remarkable 26.77% increase since the beginning of the year, Silver is proving to be a lucrative investment opportunity.
| Unit measure | Silver Price Today in USD |
|---|---|
| Troy Ounce | 30.17 |
| 1 Gram | 0.97 |
The Gold/Silver ratio, which indicates the number of Silver ounces needed to equal the value of one Gold ounce, saw a decrease to 85.27 on Friday from 85.64 on Thursday.
Silver FAQs
Silver is a precious metal highly sought after by investors for its historical value as a store of wealth and medium of exchange. While not as popular as Gold, Silver offers diversification for investment portfolios, intrinsic value, and a potential hedge during times of high inflation. Investors can acquire physical Silver in coins or bars, or trade it through Exchange Traded Funds (ETFs) that track its international market price.
Factors influencing Silver prices include geopolitical instability, economic recessions, interest rates, currency movements (especially the US Dollar), investment demand, mining supply, recycling rates, industrial usage in sectors like electronics and solar energy, and economic conditions in key markets like the US, China, and India.
Investors often observe the relationship between Gold and Silver prices, as they tend to move in tandem due to their safe-haven status. The Gold/Silver ratio can provide insights into the relative valuation of both metals, with a high ratio suggesting Silver may be undervalued and a low ratio indicating potential undervaluation of Gold.
Understanding these dynamics can help investors make informed decisions about including Silver in their investment strategy.
(An automation tool was used in creating this post.)