Silver Prices Fall to $68.80 as Year-Long Decline Continues

Silver prices fell on Monday, August 24, according to FXStreet data. The metal currently trades at $68.80 per troy ounce, down 0.25% from its price of $68.98 on Friday.

This decline marks a 3.21% decrease in silver prices since the beginning of the year. The Gold/Silver ratio, which indicates how many ounces of silver are needed to equal the value of one ounce of gold, stood at 67.46 on Monday, up from 66.74 on Friday.

Silver is a precious metal often used as a store of value and medium of exchange by investors seeking diversification or a hedge against inflation. It can be purchased physically in coins or bars or traded through vehicles such as Exchange Traded Funds that track its price on international markets.