Silver (XAG/USD) prices fell on Wednesday, according to data from FXStreet. Silver is trading at $27.23 per troy ounce, falling 0.29% from $27.31 on Tuesday.
Silver prices have increased by 6.91% since the beginning of the year.
| Unit of measurement | Actual Price |
|---|---|
| Silver Price per troy ounce | $27.23 |
| Silver Price per gram | 0.88$ |
The Gold/Silver ratio, which shows the number of troy ounces of Silver needed to equal the value of one troy ounce of Gold, stood at 85.16 on Wednesday, down from 85.02 on Tuesday.
Investors can use this ratio to determine the relative valuation of Gold and Silver. Some consider a high ratio to indicate that Silver is undervalued or Gold is overvalued, and may buy Silver or sell Gold accordingly. Conversely, a low ratio could suggest that Gold is undervalued relative to Silver.
Movements in global markets: Comex Silver price remains on the defensive as geopolitical fears ease
- The Comex Silver price is around $27.30 on Wednesday, despite the weakness of the US Dollar.
- The relaxation of geopolitical tensions in the Middle East drags the price of Silver to two-week lows.
- The increase in demand for the white metal in industrial uses supports the XAG/USD.
- Investors will get more clues about the path of US inflation and the outlook for interest rates from the US first-quarter Gross Domestic Product (GDP) figures, due out on Thursday, and the index. of prices for basic personal consumption expenditure (PCE), which will be published on Friday.
(An automation tool was used to create this post)
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
