XAG/USD climbs to $70.69 per ounce, trimming year-to-date losses amid a lower gold-silver ratio.
Silver prices rose 3.91% to $70.69 per troy ounce on Monday, recovering from Friday’s close of $68.03. The move trims a year-to-date decline of 0.55% for the metal.
The gold-silver ratio, which measures ounces of silver needed to buy one ounce of gold, fell to 61.37 from 62.03 on Friday. Silver’s gains come despite broader macroeconomic pressures, including a stronger USD and fluctuating interest rate expectations.
Investors often turn to silver as a hedge during inflationary periods or geopolitical uncertainty, though its safe-haven appeal remains secondary to gold. Supply dynamics, including mining output and recycling rates, also influence price movements.