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Silver prices (XAG/USD) experienced a decrease on Tuesday, with silver trading at $31.47 per troy ounce, marking a decline of 1.05% from the previous day’s price of $31.80.
Since the beginning of the year, silver prices have seen an overall increase of 23.56%.
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The Gold/Silver ratio, indicating the number of troy ounces of silver required to equal the value of one troy ounce of gold, stood at 74.48 on Tuesday, up from 74.02 on Monday.
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Investors often utilize this ratio to assess the relative valuation between gold and silver. A high ratio may suggest that silver is undervalued compared to gold, prompting some investors to consider buying silver or selling gold. Conversely, a low ratio might indicate that gold is undervalued relative to silver.
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