Silver (XAG/USD) prices rose on Thursday, according to data from FXStreet. Silver is trading at $27.39 per troy ounce, 0.84% more than the $27.16 it cost on Wednesday.
Silver prices have increased by 7.54% since the beginning of the year.
| Unit of measurement | Actual Price |
|---|---|
| Silver Price per troy ounce | $27.39 |
| Silver Price per gram | 0.88$ |
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 84.93 on Thursday, down from 85.26 on Wednesday.
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 world markets: Comex silver price finds buyers near $27, while dollar falls ahead of US data
- Silver bounces as US Dollar falls ahead of Q1 GDP data.
- S&P Global's weak preliminary April US PMI report casts doubt on the UK's economic outlook.
- US PCE core inflation data will significantly influence the Fed's interest rate outlook.
- Additionally, the US dollar will be tested by preliminary first quarter Gross Domestic Product (GDP) data, due to be released on Thursday at 12:30 GMT.
- The US Dollar could see a big reaction to the US data flow, significantly impacting the price of USD-denominated 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.
