XAG/USD falls 0.25% on Thursday, extending its 18.7% decline since January amid a stronger Gold/Silver ratio.
Silver prices declined to $57.79 per troy ounce on Thursday, down 0.25% from Wednesday’s $57.94. The drop extends an 18.7% loss for the year, reflecting subdued investor demand and a shifting precious metals landscape.
The Gold/Silver ratio rose to 70.37, up from 70.22 a day earlier, indicating weaker relative performance for silver. Factors influencing the metal include geopolitical risks, USD strength, and interest rate expectations, though silver’s safe-haven appeal remains secondary to gold.
Traders often use silver to diversify portfolios or hedge against inflation, but its price is also sensitive to industrial demand and mining supply dynamics.