XAG/USD remains flat at $62.01 per ounce, extending its 2024 decline amid a rising gold-silver ratio.
Silver prices showed minimal movement on Thursday, trading at $62.01 per troy ounce, a marginal 0.06% decline from Wednesday’s $62.05. The precious metal has fallen 12.77% since the start of the year, underperforming gold as the gold-silver ratio climbed to 69.06 from 68.46 a day earlier.
The metal’s stagnation reflects broader market dynamics, including a stronger US Dollar and shifting investor demand. Silver, often seen as a safe-haven asset, has faced headwinds from higher interest rates and reduced industrial demand, despite its historical role as a portfolio diversifier.
Traders continue to monitor macroeconomic factors, including geopolitical risks and Federal Reserve policy, which could influence silver’s trajectory in the near term.