Silver Prices Tumble Amid Weakening Safe-Haven Status
Silver prices have fallen according to FXStreet data. Despite its safe-haven status, Silver tends to escalate in value less than Gold during times of geopolitical instability or recession fears.
Its price movement is influenced by various factors including interest rates and the US Dollar's behavior as it is priced in dollars (XAG/USD).
A strong US Dollar tends to keep Silver prices at bay, whereas a weaker Dollar can propel prices up. Other contributing factors include investment demand, mining supply, which is significantly higher than Gold, and recycling rates.