XAG/USD declines for the session, extending year-to-date losses to 8.87% amid a stronger dollar and shifting investor demand.
Silver prices fell 2.7% to $64.78 per troy ounce on Tuesday, down from $66.59 the previous day. The decline extends the metal’s year-to-date loss to 8.87%, reflecting broader pressure on precious metals.
The Gold/Silver ratio rose to 67.50, up from 65.92 on Monday, indicating weaker relative demand for silver compared to gold. Factors influencing the drop include a stronger US dollar and shifting investor sentiment amid macroeconomic uncertainty.
Silver, often used as a hedge against inflation or portfolio diversifier, remains sensitive to interest rate expectations and geopolitical risks. Mining supply and recycling rates also play a role in price movements.