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Silver rises to $59.17 an ounce, following a daily uptick

Silver gained 1.45% from Wednesday’s $58.32, and the Gold/Silver ratio fell to 69.44 from 69.89.

Reported · Written up by our desk · Precious Metals

Silver prices climbed on Thursday, trading at $59.17 per troy ounce, according to FXStreet data. That compares with $58.32 on Wednesday, representing a daily increase of 1.45%.

FXStreet also cited changes in the Gold/Silver ratio, which fell to 69.44 on Thursday from 69.89 the prior day. The ratio indicates how many ounces of silver are needed to match the value of one ounce of gold.

The report notes that silver is widely used by investors as a store of value and can act as a hedge, with moves influenced by factors including geopolitical risk, recession fears, and interest rates. Because silver is priced in dollars, FXStreet said the US dollar’s direction also matters for the metal’s performance.

FXStreet further pointed to demand and supply dynamics, including investment demand, mining supply and recycling rates, as well as industrial usage in electronics and solar energy. It added that silver often tracks gold because both are treated as safe-haven assets, and that the Gold/Silver ratio can be used to gauge their relative valuation.

Latest closeGold $4,023.80 ▼1.2%|Silver $57.33 ▼2.0%

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