XAG/USD declines 0.96% on Friday, extending losses despite a 6.82% year-to-date gain amid a stronger Gold/Silver ratio.
Silver prices retreated 0.96% to $75.93 per troy ounce on Friday, down from $76.67 the previous session. The decline comes despite a 6.82% increase since the start of the year, reflecting mixed investor sentiment toward the precious metal.
The Gold/Silver ratio rose to 59.57, up from 59.25 on Thursday, indicating relative weakness in silver compared to gold. Factors influencing silver’s movement include geopolitical risks, US Dollar strength, and interest rate expectations, as the metal remains sensitive to macroeconomic shifts.
Silver, often used as a portfolio diversifier or inflation hedge, faces pressure from a stronger USD and yieldless asset dynamics. Mining supply and industrial demand also play key roles in price fluctuations.