Silver prices (XAG/USD) broadly unchanged on Wednesday, according to FXStreet data.
Silver prices broadly unchanged on Wednesday, according to FXStreet data. Silver trades at $29.55 per troy ounce, steady from Tuesday. Silver prices have increased by 16.02% since the beginning of the year. Unit measure Today Price Silver price per troy ounce $29.55 Silver price per gram $0.95 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 78.93 on Wednesday, up from 78.86 on Tuesday.
As a yieldless asset, Silver tends to rise with lower interest rates. Its moves also depend on how the US Dollar behaves as the asset is priced in dollars . A strong Dollar tends to keep the price of Silver at bay, whereas a weaker Dollar is likely to propel prices up. Other factors such as investment demand, mining supply – Silver is much more abundant than Gold – and recycling rates can also affect prices.
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