Silver prices (denoted as XAG/USD) were broadly unchanged on Tuesday, based on data from FXStreet. It was trading at $29.63 per troy ounce, showing only a minimal change of 0.07% from the $29.65 it cost on Monday.
Year-to-Date Performance
Significant Increase
Since the start of the year, silver prices have managed to increase by a notable 29.51%.
Gold/Silver Ratio
Change in Ratio
The Gold/Silver ratio, which indicates the number of ounces of silver needed to match the value of one ounce of gold, stood at 88.34 on Tuesday. This is an increase from the 88.07 it was at on Monday.
In conclusion, while silver prices didn’t see much movement on Tuesday, their performance over the course of the year has been quite strong. The change in the Gold/Silver ratio also provides an additional perspective on the relative value of these precious metals. Traders and investors will continue to monitor these figures to understand how silver prices may evolve in the future.
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