According to Fxstreet Data, silver prices (XAG/USD) rose on Monday. Silver trades for $ 32.40 in Troy ounces, which is $ 1.19% more than $ 32.02 on Friday.
Silver prices have risen by 12.12%since the beginning of the year.
| Unit dimension | The price of silver today in USD |
|---|---|
| Troy ounce | 32.40 |
| 1 gram | 1.04 |
The ratio of gold/silver, which shows the number of silver Unts, which is needed with one ounces of gold, was 101.77 on Monday, compared to 101.21 on Friday.
Silver
Silver is a precious metal with high trading in investors. It is historically used as a means of value and exchange. Although traders are less popular, traders may turn to silver to diversify their investment portfolio, its internal value or potential risking during the high inflation period. Investors can buy physical silver in coins or bars or trade through vehicles such as exchange funds that monitor its price in international markets.
Silver prices can move due to a variety of factors. Geopolitical instability or fears of a deep recession may escalate the price of silver due to its safe status, albeit to a lesser extent than gold. Silver tends to rise at lower interest rates as a sawless property. Its moves also depend on how the US dollar (USD) behaves when assets are valued (XAG/USD). A strong dollar tends to keep the silver price in quiet, while the weaker dollar is likely to push prices. Other factors, such as investment demand, mining offer – there is much more silver than gold and recycling rate can also affect prices.
Silver is widely used in industry, especially in sectors such as electronics or solar energy, as it has the highest electrical conductivity of all metals – more than copper and gold. Increased demand can increase prices while the decline tends to lower them. Dynamics in the US, China and India can also contribute to price changes: for the United States and especially China, their large industrial sectors use silver in various processes; In India, consumer demand for jewelery precious metal also plays a key role in determining prices.
Silver prices tend to follow the golt course. When gold prices rise, silver usually follows an example, as their status as safe worsening assets are similar. The ratio of gold/silver, which shows the number of silver units to equalize one ounce value, can help determine the relative evaluation of both metals. Some investors may consider a high relationship as an indicator that silver is underestimated or gold is overestimated. On the contrary, a low ratio may indicate that gold is underestimated in silver.
(The automation tool was used to create this post.)
