Silver Prices Tumble 2.14% as Safe-Haven Asset Suffers

Silver prices took a hit on Monday, September 14, according to FXStreet data. The metal traded at $63.22 per troy ounce, down 2.14% from its Friday price of $64.60.

This decline marks the fifth day in a row that Silver has fallen, with prices decreasing by 11.06% since the start 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 68.15 on Monday, up from 67.31 on Friday.

Silver's value can be affected by various factors, including geopolitical instability, interest rates, and the US Dollar. As a safe-haven asset, Silver tends to rise when investors seek refuge in precious metals during times of uncertainty or economic downturns.