Silver prices (XAG/USD) extended their gains on Friday for the third consecutive day, reaching $28.64 per troy ounce according to FXStreet data. This marks a 1.08% increase from Thursday’s price of $28.33 and represents the highest level observed since April 22.
Since the beginning of the year, silver prices have seen a notable uptrend, rising by 12.45% overall.
Additionally, the Gold/Silver ratio, which measures the number of troy ounces of silver needed to equal the value of one troy ounce of gold, declined to 82.69 on Friday from 82.81 on Thursday. This ratio serves as a metric for investors to assess the relative valuation of gold and silver.
A higher Gold/Silver ratio is often interpreted as a signal that silver may be undervalued relative to gold, prompting some investors to consider purchasing silver or selling gold. Conversely, a lower ratio may suggest that gold is undervalued compared to silver.
The recent rise in silver prices and the evolving Gold/Silver ratio reflect ongoing market dynamics, influencing investment decisions as investors evaluate the relative attractiveness of precious metals in the current economic environment.
