XAG/USD falls 0.72% on Wednesday, extending its 2024 loss to nearly 14% amid a slight dip in the Gold/Silver ratio.
Silver prices declined to $61.15 per troy ounce on Wednesday, marking a 0.72% drop from Tuesday’s $61.60. The move extends the metal’s year-to-date decline to 13.97%, reflecting persistent pressure on precious metals.
The Gold/Silver ratio edged lower to 66.58 from 66.74 a day earlier, signaling a marginal shift in relative value between the two assets. Silver’s performance has been influenced by factors including USD strength, interest rate expectations, and demand for safe-haven assets.
Investors often turn to silver as a hedge against inflation or portfolio diversifier, though its volatility remains tied to macroeconomic trends and geopolitical risks.