Silver prices (XAG/USD) experienced a fall on Tuesday. The current price of silver stands at $29.96 per troy ounce, reflecting a decline of 2.51% compared to the previous day’s price of $30.73.
Since the beginning of the year, silver prices have increased by 17.63%.
Here are the prices of silver in different units of measure:
Silver price per troy ounce: $29.96
Silver price per gram: $0.96
The Gold/Silver ratio, which indicates the number of troy ounces of silver required to match the value of one troy ounce of gold, was at 77.89 on Tuesday, up from 76.49 on Monday.
The Gold/Silver ratio is often used by investors to assess the relative valuation of gold and silver. A higher ratio is typically seen as an indication that silver may be undervalued or that gold may be overvalued, leading some investors to consider buying silver or selling gold. Conversely, a lower ratio may suggest that gold is undervalued compared to silver.
Please note that silver prices and the Gold/Silver ratio can fluctuate based on various factors, including market dynamics, investor sentiment, and global economic conditions.
