XAG/USD rises 1.98% on Friday, reversing recent losses amid a softer USD and lower Gold/Silver ratio.
Silver prices climbed to $58.40 per troy ounce on Friday, marking a 1.98% increase from Thursday’s $57.27. The move follows a weaker US Dollar and a decline in the Gold/Silver ratio to 69.50 from 70.72.
Year-to-date, silver remains down 17.84%, underperforming gold amid shifting investor demand. The metal’s price is influenced by factors including geopolitical risks, interest rates, and industrial demand.
Traders often use silver as a hedge against inflation or portfolio diversifier, though it remains more volatile than gold due to its dual role as an industrial and precious metal.