Silver prices (XAG/USD) fell on Wednesday, according to FXStreet data. Silver trades at $27.23 per troy ounce, down 0.29% from the $27.31 it cost on Tuesday.
Silver prices have increased by 6.91% since the beginning of the year.
| Unit measure | Today Price |
| Silver price per troy ounce | $27.23 |
| Silver price per gram | $0.88 |
The Gold/Silver ratio, representing how many troy ounces of Silver are required to match the value of one troy ounce of Gold, increased slightly to 85.16 on Wednesday from 85.02 on Tuesday.
This ratio is a tool used by investors to assess the comparative values of Gold and Silver. A higher ratio may suggest that Silver is relatively undervalued, or that Gold is overvalued, prompting actions like purchasing Silver or selling Gold. On the other hand, a lower ratio could indicate that Gold is undervalued compared to Silver.
In other market news, the Comex Silver price declined to approximately $27.30 on Wednesday, influenced by a drop in geopolitical tensions in the Middle East and a weakening U.S. Dollar. Despite these pressures, the demand for Silver for industrial purposes continues to provide some support for the price of this white metal.
Looking ahead, investors are anticipating more insights into the U.S. economic outlook, specifically regarding inflation and interest rates. Key data releases include the U.S. Q1 Gross Domestic Product (GDP) figures on Thursday and the Core Personal Consumption Expenditures (PCE) Price Index on Friday. These reports will likely impact market sentiment and guide investment strategies moving forward