Silver prices (XAG/USD) rose on Wednesday, according to FXStreet data.
Silver prices rose on Wednesday, according to FXStreet data. Silver trades at $28.77 per troy ounce, up 1.29% from the $28.41 it cost on Tuesday. Silver prices have increased by 20.91% since the beginning of the year. Unit measure Silver Price Today in USD Troy Ounce 28.77 1 Gram 0.93 The Gold/ Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, stood at 87.67 on Wednesday, down from 88.60 on Tuesday.
A strong Dollar tends to keep the price of Silver at bay, whereas a weaker Dollar is likely to propel prices up. Other factors such as investment demand, mining supply – Silver is much more abundant than Gold – and recycling rates can also affect prices. How does industrial demand affect Silver prices? Silver is widely used in industry, particularly in sectors such as electronics or solar energy, as it has one of the highest electric conductivity of all metals – more than Copper and Gold.
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