Silver (XAG/USD) prices rose on Friday, according to FXStreet data. Silver is trading at $29.04 per troy ounce, 0.26% more than the $28.97 it cost on Thursday.
Silver prices have increased by 14.02% since the beginning of the year.
| Unit of measurement | Today’s price |
|---|---|
| Silver Price per troy ounce | $29.04 |
| Silver Price per gram | $0.93 |
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 79.74 on Friday, down from 79.55 on Thursday.
Investors can use this ratio to determine the relative valuation of gold and silver. Some may consider a high ratio as an indicator that silver is undervalued – or gold is overvalued – and might buy silver or sell gold accordingly. Conversely, a low ratio could suggest that gold is undervalued relative to silver.
(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.
