Silver prices fell 0.72% to $33.56 per ounce, influenced by market trends, interest rates, and investor sentiment.
Silver Price Declines on March 20 Amid Market Fluctuations
Silver prices have decreased amidst fluctuations, in the market.
Silver prices saw a decrease, on Thursday, March 20 due to market fluctuations the metal was trading at $33.56 for each troy ounce which is a 0.72% decline from the previous day’s price of $33.81 even with this reduction, in value silver has managed to maintain a growth of 16.17% since the beginning of the year.
The ratio of Gold, to Silver, rose to 90.63 from the previous day’s level of 90.14. This ratio tells you how many ounces of silver it takes to equal the value of an ounce of gold and indicates when demand for one metal is rising while demand for the other is falling.
Silver prices are influenced by factors such, as interest rates and the value of the U.S. dollar along with demand and investor sentiment play a role too. Its utilization in sectors, like electronics and solar energy also impacts its pricing shifts. Amidst the prevailing uncertainty traders closely monitor silver and gold to assess market patterns.
In the sessions to come silver’s trajectory is expected to be impacted by changes, in conditions and decisions made by central banks.
