XAG/USD falls 0.42% on Thursday, extending its 6.15% decline since the start of the year amid shifting market factors.
Silver prices declined to $66.71 per troy ounce on Thursday, marking a 0.42% drop from Wednesday’s $67.00. The move extends a 6.15% decline for the year, reflecting broader market trends and investor sentiment.
The Gold/Silver ratio edged lower to 67.33 from 67.51, indicating relative strength in gold compared to silver. Factors influencing silver include geopolitical risks, interest rate expectations, and the performance of the US Dollar, which remains a key pricing driver for the metal.
Silver’s role as a safe-haven asset and industrial commodity continues to shape its price movements, though it remains less favored than gold in periods of uncertainty.