XAG/USD declines for the session, extending year-to-date losses to 18.3% amid a rising Gold/Silver ratio.
Silver prices fell 1.59% to $58.08 per troy ounce on Friday, extending a downward trend that has erased 18.29% of its value since the start of the year. The decline comes as the Gold/Silver ratio rose to 69.84, up from 69.53 the previous day, signaling weaker relative demand for silver.
Earlier in the week, silver traded at $59.02, but macroeconomic pressures and a stronger US Dollar weighed on the metal. Silver’s performance often lags gold during periods of risk aversion, though it remains sensitive to shifts in interest rates and currency movements.
No immediate market reaction was reported following the price drop.