Silver Prices Bounce Back on September 11
Silver prices rose on September 11, according to FXStreet data. The price of silver (XAG/USD) increased by 0.72% to $64.04 per troy ounce from its value on Thursday.
This growth follows a year-to-date decrease of 9.91%. The Gold/Silver ratio remained broadly unchanged at 67.85, indicating that the number of ounces of silver needed to equal the value of one ounce of gold remains relatively stable.
Silver is often used as a safe-haven asset and a store of value, particularly during periods of high inflation or geopolitical uncertainty. Its price can be influenced by various factors, including investment demand, mining supply, recycling rates, and the US dollar's performance. The metal is also widely used in industry due to its electric conductivity.