Key Takeaways:
- Silver prices rose by 1.03% to $28.49 per troy ounce on Thursday.
- Silver prices have increased by 11.86% since the beginning of the year.
- The Gold/Silver ratio stood at 83.54 on Thursday.
- Investors use the Gold/Silver ratio to determine the relative valuation of Gold and Silver.
- Global market movers suggest a positive outlook for Silver prices, despite potential Fed policy changes.
Silver Prices Rise on Thursday
According to FXStreet data, Silver prices (XAG/USD) increased on Thursday, trading at $28.49 per troy ounce, up 1.03% from the previous day.
Gold/Silver Ratio and Market Trends
The Gold/Silver ratio, which indicates the number of troy ounces of Silver needed to equal the value of one troy ounce of Gold, stood at 83.54 on Thursday. Investors often use this ratio to assess the relative valuation of Gold and Silver, potentially influencing their investment decisions.
Global Market Movers
Comex Silver price continued its upward trend towards $29.00 in Thursday’s early European session. Rising industrial demand and geopolitical tensions in the Middle East have contributed to the positive outlook for the white metal. However, potential delays in the Fed’s easing cycle could limit the upside potential of Silver prices.
Silver FAQs
Silver is a precious metal popular among investors for its value and potential as a hedge during high-inflation periods. Price movements are influenced by various factors, including geopolitical instability, interest rates, and the behavior of the US Dollar. Silver is widely used in industry, particularly in electronics and solar energy, which can impact its prices. Silver prices often follow Gold’s moves, and the Gold/Silver ratio is a useful tool for assessing the relative valuation between the two metals.