Silver prices plummeted on July 31, falling by 1.59% to $58.08 per troy ounce from its Thursday price of $59.02.
This decline marks a significant drop in Silver's value since the beginning of the year, with prices decreasing by 18.29%.
The Gold/Silver ratio, which indicates how many ounces of Silver are needed to equal the value of one ounce of Gold, rose to 69.84 on Friday, up from 69.53 on Thursday.
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