XAG/USD declines for the session, extending year-to-date losses to 9.29% amid a rising Gold/Silver ratio.
Silver prices fell 1.3% to $64.48 per troy ounce on Thursday, down from $65.32 the previous day. The decline extends year-to-date losses to 9.29%, reflecting weaker investor demand for the precious metal.
The Gold/Silver ratio rose to 67.88, up from 67.49 on Wednesday, indicating silver underperformed gold. Factors influencing silver include geopolitical risks, USD strength, and interest rate expectations, though it remains less sensitive than gold as a safe-haven asset.
Silver’s price movements are also tied to industrial demand and mining supply, given its dual role as a precious and industrial metal. A stronger USD typically weighs on dollar-denominated commodities like silver.