Forex News
Societe Generale’s Kenneth Broux highlights that USD/CAD has broken out of a large consolidation and extended gains towards 1.4250, with the upper part of the prior range at 1.4130 now acting as key support. CFTC data show short CAD positions at their most bearish since December 2025, while Canadian labour data and BoC surveys shape the near-term outlook.
Breakout holds with stretched positioning
"USD/CAD recently broke out from a large consolidation and extended its up move towards 1.4250. A brief pause has materialized after this test, however, signals of an extended pullback are not yet visible. The upper part of previous range at 1.4130 has so far acted as support."
"Only if this is breached would there be a risk of a deeper down move. The next objectives could be located at projections of 1.4335 and 1.4425."
"Elsewhere in G10, there aren’t many currencies as tactically oversold like the CAD but there’s no sign that stretched levels beyond 1.42 are enticing opportunistic buyers, positioning for mean reversion."
"The Loonie traded last up here at the tail end of Liberation Day tariffs in April 2025 but 2y rate differentials have widened perceptibly to 142bp since then, reflecting the repricing of the outlook for the Fed."
"Short CAD positions climbed to 43.5% of OI, the most bearish since mid December 2025. Technically, the pair broke out from a large consolidation recently; upper part of this range at 1.4130 is an important support."
"According to the BoC 2Q business outlook survey published yesterday, the Gulf war caused a spike in inflation expectations and is leading Canadian oil producers to boost their investment and production plans. Attention will turn to the labour market data on Friday. After the blowout gain of 87.8k in May (3m average of 28k is first positive reading since January), employment growth is forecast to have moderated to 10k."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)
Silver prices (XAG/USD) fell on Tuesday, according to FXStreet data. Silver trades at $60.95 per troy ounce, down 1.79% from the $62.06 it cost on Monday.
Silver prices have decreased by 14.26% since the beginning of the year.
Unit measure | Silver Price Today in USD |
|---|---|
Troy Ounce | 60.95 |
1 Gram | 1.96 |
The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, stood at 67.75 on Tuesday, up from 67.11 on Monday.
Silver FAQs
Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets.
Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold's. As a yieldless asset, Silver tends to rise with lower interest rates. Its moves also depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAG/USD). 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.
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. A surge in demand can increase prices, while a decline tends to lower them. Dynamics in the US, Chinese and Indian economies can also contribute to price swings: for the US and particularly China, their big industrial sectors use Silver in various processes; in India, consumers’ demand for the precious metal for jewellery also plays a key role in setting prices.
Silver prices tend to follow Gold's moves. When Gold prices rise, Silver typically follows suit, as their status as safe-haven assets is similar. The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, may help to determine the relative valuation between both metals. Some investors may consider a high ratio as an indicator that Silver is undervalued, or Gold is overvalued. On the contrary, a low ratio might suggest that Gold is undervalued relative to Silver.
(An automation tool was used in creating this post.)
Brown Brothers Harriman’s (BBH) Elias Haddad reports USD/JPY is consolidating around 162.00 after touching a 40‑year high near 162.84. Japan’s May wage data softened, and underlying Bank of Japan (BoJ) Consumer Price Index (CPI) indicators eased further below 2%, suggesting limited inflation pressure. Haddad concludes the bar for a hawkish BoJ repricing is high, which should cap Japanese Yen relief rallies despite current rate expectations.
JPY relief rallies seen as limited
"USD/JPY is consolidating around 162.00 after surging to a 40-year high at 162.84 last week. 30-year JGB yields dropped as much as 10bps to 4.00% on solid buying interest from investors. The 30-year bond sale's average bid-to-cover ratio was 4.55 vs. 2.94 in June, the highest since May 2019."
"Japan’s May labor cash earning data was soft due to calendar effect. Total nominal wage growth slowed more than expected to 3.2% y/y (consensus: 3.4%) vs. 3.6% in April. The less volatile scheduled pay growth for full-time workers cooled to a five-month low of 2.4% y/y vs. 2.5% in April."
"Overall, Japan wage growth is not a major source of inflation pressure given annual total factor productivity growth of about 1%. Indeed, most of the BoJ’s underlying CPI indicators eased further below 2% in May."
"The bar for a hawkish BoJ repricing is high, limiting JPY relief rallies. The swaps curve price in nearly 50bps of hikes to 1.50% in the next twelve months, which looks broadly appropriate."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)
- US Dollar Index strengthens as a safe-haven asset after Iran reportedly fired missiles at commercial ships.
- Cooling jobs and business growth curb the Greenback's rise, as traders drop expectations for Fed interest rate hikes.
- The June ISM Services PMI eased to 54.0 from 54.5, signaling slightly slower growth in the services sector.
The US Dollar Index (DXY), which measures the value of the US Dollar (USD) against six major currencies, is holding gains after two successive flat days and trading around 100.90 during the European hours on Tuesday. The Greenback received support from safe-haven demand amid renewed geopolitical tensions.
Strait of Hormuz tensions emerged after reports that Iran fired at least two missiles at commercial vessels transiting the strategic waterway late Monday. While two ships sustained significant damage, no casualties were reported. Separately, the UK Maritime Trade Operations (UKMTO) confirmed that a southbound tanker was struck on its port side by an unknown projectile, which ignited a fire on board.
However, the upside of the Greenback could be restrained as traders price out any Federal Reserve rate hikes this month and in September. This shift in sentiment followed a cooling employment report that revealed fewer jobs added across April, May, and June than Wall Street had anticipated.
Additionally, business activity in the US service sector cooled slightly; it remained firmly in expansionary territory, with the June ISM Services Purchasing Managers’ Index (PMI) easing to 54.0 from 54.5, as expected, in line with consensus estimates. Within the sub-components of the report, the Prices Index dipped from 71.3 to 67.7, while the Employment Index saw a notable improvement, climbing out of contractionary territory from 47.9 to 51.2.
The Greenback could find baseline support from hawkish remarks by Federal Reserve (Fed) Governor Christopher Waller and resilient domestic economic data.
Waller underscores forward guidance limits while reaffirming Fed’s inflation resolve
Fed’s Waller delivers a moderately more impactful speech than usual, with a 7.1/10 FXS Speechtracker score compared to the established baseline of 6.4/10, focused on the nuanced role of forward guidance. The emphasis that forward guidance can both accelerate policy transmission and become a hindrance when too rigid or used amid highly uncertain outcomes signals a preference for flexibility and data dependence rather than pre-commitment. Later remarks reaffirm the credibility of the 2% inflation pledge, reject using low rates to ease U.S. deficit financing, and highlight shifting risks as inflation “taking off” and a stabilized labor market alter the policy calculus, all of which lean modestly hawkish for the Dollar.
The FXS Fed Sentiment Index rises by 1.83 points to 125.72, reinforcing a clear hawkish stance well above the neutral 100 threshold. The combination of a stronger-than-baseline FXS Speechtracker score and an index level firmly in hawkish territory suggests markets will continue to price a vigilant Fed reaction function, supportive of the Dollar against the Euro and Yen.
US Dollar FAQs
The US Dollar (USD) is the official currency of the United States of America, and the ‘de facto’ currency of a significant number of other countries where it is found in circulation alongside local notes. It is the most heavily traded currency in the world, accounting for over 88% of all global foreign exchange turnover, or an average of $6.6 trillion in transactions per day, according to data from 2022. Following the second world war, the USD took over from the British Pound as the world’s reserve currency. For most of its history, the US Dollar was backed by Gold, until the Bretton Woods Agreement in 1971 when the Gold Standard went away.
The most important single factor impacting on the value of the US Dollar is monetary policy, which is shaped by the Federal Reserve (Fed). The Fed has two mandates: to achieve price stability (control inflation) and foster full employment. Its primary tool to achieve these two goals is by adjusting interest rates. When prices are rising too quickly and inflation is above the Fed’s 2% target, the Fed will raise rates, which helps the USD value. When inflation falls below 2% or the Unemployment Rate is too high, the Fed may lower interest rates, which weighs on the Greenback.
In extreme situations, the Federal Reserve can also print more Dollars and enact quantitative easing (QE). QE is the process by which the Fed substantially increases the flow of credit in a stuck financial system. It is a non-standard policy measure used when credit has dried up because banks will not lend to each other (out of the fear of counterparty default). It is a last resort when simply lowering interest rates is unlikely to achieve the necessary result. It was the Fed’s weapon of choice to combat the credit crunch that occurred during the Great Financial Crisis in 2008. It involves the Fed printing more Dollars and using them to buy US government bonds predominantly from financial institutions. QE usually leads to a weaker US Dollar.
Quantitative tightening (QT) is the reverse process whereby the Federal Reserve stops buying bonds from financial institutions and does not reinvest the principal from the bonds it holds maturing in new purchases. It is usually positive for the US Dollar.
According to data from the People's Bank of China (PBoC), world’s second-largest economy China increases its Gold reserves again.
In June, China Gold reserves at the end of June 2026 were recorded at 75.44 million troy ounce, 0.48 million higher from a month earlier.
In value terms, country's Gold reserves amounted to $303.72 billion at the end of June, down from $340.75 billion in May.
Gold FAQs
Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government.
Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves.
Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal.
The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.
Frantisek Taborsky at ING highlights Hungarian inflation falling to 1.7%, below market and National Bank of Hungary (NBH) forecasts, cementing rate cuts in July and August. Markets price around 150bp of easing and a 4.50% terminal rate, with scope for additional cuts. He sees limited FX impact from rates, expecting EUR/HUF to stay in a 350–356 range while the forint benefits from summer carry demand.
More NBH easing with stable forint
"Hungarian inflation dropped further from 1.8% to 1.7%, below market expectations. This is also below the National Bank of Hungary's forecast in its June Inflation Report (2.0%). This will therefore cement the rate cuts in July and August."
"Based on yesterday’s pricing, the market was pricing around 150bp of easing and a 4.50% terminal rate, in line with our forecast, assuming BUBOR remains above the policy rate at the end of the cycle."
"While this appears sizeable in a global comparison, relative to 2024 there is still room for the market to price in at least one additional rate cut in our view. Conditions are much more favourable than they were two years ago, so we expect the dovish inflation path to push pricing further towards additional easing."
"This should mechanically be negative for FX. However, we think the rate differential has only a limited impact on EUR/HUF at the moment, with the market more focused on domestic politics and the euro adoption story."
"In the short term, the forint may come under some pressure as more cuts are priced in, but over the medium term we expect EUR/HUF to stabilise within the current 350-356 range. At the same time, the forint may continue to benefit from summer carry demand."
(This article was created with the help of an Artificial Intelligence tool and reviewed by an editor. Know more.)
- The Oil price rises 1% to near $69.40, following Iran’s attack on commercial ships transiting through Hormuz.
- Oil prices are likely to remain subdued as long as the US-Iran ceasefire remains intact.
- The OPEC+ has agreed to increase the global Oil supply by 188K barrels per day.
West Texas Intermediate (WTI), futures on NYMEX, trades 1% higher to near $69.40 during the European trading session on Tuesday. The oil price gains after reports that Iran attacked at least two commercial ships transiting through the Strait of Hormuz, a vital passage to almost one-fifth of global energy supply, renewing fears of supply disruptions.
According to an Axios report, Iran fired at least two missiles at commercial ships transiting through the Hormuz. Two commercial ships were hit and suffered significant damage, but no casualties were reported, Bloomberg reported.
While the impact of the event is expected to be limited, as the United States (US) has not delivered any remark regarding the matter, suggesting that the ceasefire with Iran remains intact.
However, US President Donald Trump threatened to attack Iranian infrastructure on Monday if it doesn’t finalize a deal soon.
In response, Iran’s Foreign Minister Abbas Araghchi has warned, “Negotiations on a final deal will not commence if threats continue. Honour your signature.”
Meanwhile, the announcement of a hike in the overall oil output by the OPEC+ has increased the global supply, a scenario that weighs on oil prices.
WTI technical analysis
Bias: WTI US Oil trades higher at around $69.29 at press time. However, the index maintains a bearish near-term bias as spot prices hold well below the 20-day Exponential Moving Average (EMA) at $74.27.
Momentum: The separation between price and the EMA suggests sellers remain in control, while the Relative Strength Index (RSI) at 31.79 hovers just above oversold territory, hinting that downside momentum is still dominant but approaching levels where selling pressure could begin to moderate.
Resistance: On the topside, the immediate resistance is $70.00, followed by the 20-day EMA near $74.27.
Support: The Oil price might enter a fresh downside leg if it breaks below the July 2 low at $67.09. A downside move below $67.09 would expose the oil price to the February 26 low at $63.58.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
WTI Oil FAQs
WTI Oil is a type of Crude Oil sold on international markets. The WTI stands for West Texas Intermediate, one of three major types including Brent and Dubai Crude. WTI is also referred to as “light” and “sweet” because of its relatively low gravity and sulfur content respectively. It is considered a high quality Oil that is easily refined. It is sourced in the United States and distributed via the Cushing hub, which is considered “The Pipeline Crossroads of the World”. It is a benchmark for the Oil market and WTI price is frequently quoted in the media.
Like all assets, supply and demand are the key drivers of WTI Oil price. As such, global growth can be a driver of increased demand and vice versa for weak global growth. Political instability, wars, and sanctions can disrupt supply and impact prices. The decisions of OPEC, a group of major Oil-producing countries, is another key driver of price. The value of the US Dollar influences the price of WTI Crude Oil, since Oil is predominantly traded in US Dollars, thus a weaker US Dollar can make Oil more affordable and vice versa.
The weekly Oil inventory reports published by the American Petroleum Institute (API) and the Energy Information Agency (EIA) impact the price of WTI Oil. Changes in inventories reflect fluctuating supply and demand. If the data shows a drop in inventories it can indicate increased demand, pushing up Oil price. Higher inventories can reflect increased supply, pushing down prices. API’s report is published every Tuesday and EIA’s the day after. Their results are usually similar, falling within 1% of each other 75% of the time. The EIA data is considered more reliable, since it is a government agency.
OPEC (Organization of the Petroleum Exporting Countries) is a group of 12 Oil-producing nations who collectively decide production quotas for member countries at twice-yearly meetings. Their decisions often impact WTI Oil prices. When OPEC decides to lower quotas, it can tighten supply, pushing up Oil prices. When OPEC increases production, it has the opposite effect. OPEC+ refers to an expanded group that includes ten extra non-OPEC members, the most notable of which is Russia.
- Gold meets with a fresh supply as reviving inflationary fears support US Treasury bond yields.
- Receding Fed rate hike bets keep USD bulls on the defensive and might support the commodity.
- The technical setup seems tilted in favor of bearish traders and backs the case for further losses.
Gold (XAU/USD) retains intraday negative bias through the early European session on Tuesday, though it holds above the $4,100 mark. Crude oil prices edge higher amid renewed tensions in the Strait of Hormuz, reviving inflationary concerns. This, in turn, triggers a fresh leg up in US Treasury bond yields, offering some support to the US Dollar (USD) and weighing on the non-yielding yellow metal for the second straight day. However, receding US Federal Reserve (Fed) rate-hike bets could act as a headwind for the Greenback and limit the downside for the bullion.
Tensions in the Strait of Hormuz remain high as Tehran attempts to cement strategic control and aims to collect fees from ships transiting through the critical waterway. Despite strong opposition from the US, Iran insists that the fees are for security, vessel supervision, and environmental protection, rather than tolls. Adding to this, a maritime agency reported that an oil tanker was struck by an unidentified projectile while transiting through the strait, complicating a fragile US-Iran peace deal and offering some support to crude oil prices.
Meanwhile, the soft US Nonfarm Payrolls (NFP) report for June tempered market bets that the US central bank will raise borrowing costs. In fact, traders shifted expectations from one to two Fed rate increases in 2026 to between zero and one hike. This keeps the USD bulls on the defensive and might hold back traders from placing aggressive bearish bets around the Gold. On the economic data front, the US ISM Services PMI eased to 54.0 in June from 54.5 in the previous month, matching consensus estimates and doing little to impress the USD bulls.
Investors, however, seem hesitant to place aggressive bets and opt to wait for more cues about the Fed's policy path. Hence, the focus now shifts to the release of the FOMC Minutes on Wednesday. Apart from this, geopolitical developments would drive the USD demand and provide some impetus to the Gold. In the meantime, the aforementioned fundamental backdrop makes it prudent to wait for strong follow-through selling before confirming that the recent recovery move from the year-to-date low, touched last week, has run out of steam.
XAU/USD daily chart
Gold seems vulnerable as bears await below $4,100
The XAU/USD pair keeps a bearish near-term bias below the 200-day Simple Moving Average (SMA) at $4,489.97 and within a descending channel. However, the Moving Average Convergence Divergence (MACD) indicator has turned positive, with the MACD line above the signal line and an expanding positive histogram. This suggests recovering bullish momentum, though not yet strong enough to challenge the dominant overhead structure. Moreover, the Relative Strength Index (RSI) at 44.16 remains below the 50 line, hinting at a still neutral to mildly bearish tone despite the recent bounce.
Meanwhile, $4,100 could act as a tentative floor ahead of more meaningful support at the channel bottom near $3,844.34, where a deeper slide would meet firmer demand. On the topside, immediate resistance appears at the top boundary of the descending channel near $4,296.64, where any recovery is likely to stall initially. This is followed by the 200-day SMA at $4,489.97 and a higher structural barrier near $4,572.41.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Gold FAQs
Gold has played a key role in human’s history as it has been widely used as a store of value and medium of exchange. Currently, apart from its shine and usage for jewelry, the precious metal is widely seen as a safe-haven asset, meaning that it is considered a good investment during turbulent times. Gold is also widely seen as a hedge against inflation and against depreciating currencies as it doesn’t rely on any specific issuer or government.
Central banks are the biggest Gold holders. In their aim to support their currencies in turbulent times, central banks tend to diversify their reserves and buy Gold to improve the perceived strength of the economy and the currency. High Gold reserves can be a source of trust for a country’s solvency. Central banks added 1,136 tonnes of Gold worth around $70 billion to their reserves in 2022, according to data from the World Gold Council. This is the highest yearly purchase since records began. Central banks from emerging economies such as China, India and Turkey are quickly increasing their Gold reserves.
Gold has an inverse correlation with the US Dollar and US Treasuries, which are both major reserve and safe-haven assets. When the Dollar depreciates, Gold tends to rise, enabling investors and central banks to diversify their assets in turbulent times. Gold is also inversely correlated with risk assets. A rally in the stock market tends to weaken Gold price, while sell-offs in riskier markets tend to favor the precious metal.
The price can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can quickly make Gold price escalate due to its safe-haven status. As a yield-less asset, Gold tends to rise with lower interest rates, while higher cost of money usually weighs down on the yellow metal. Still, most moves depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAU/USD). A strong Dollar tends to keep the price of Gold controlled, whereas a weaker Dollar is likely to push Gold prices up.
- XAG/USD pares last week's gains and tests levels below $61.00 on Tuesday
- Fresh tensions between Washington and Tehran are keeping precious metals on the defensive.
- Technical indicators are turning bearish, with session lows at the 60.30 area under pressure.
Silver (XAG/USD) pulled lower from Monday’s peak and is testing levels below $61.00 at the time of writing, paring some of last week’s gains. A more cautious stance towards the US-Iran peace deal has offset the positive impact of fading hopes of further Federal Reserve rate hikes, posing moderate pressure on precious metals on Tuesday.
Some verbal escalation between the US and Iran has clouded hopes of a swift end to the conflict and soured market sentiment this week. On Tuesday, Iran’s Foreign Minister Abbas Araghchi warned that negotiations on a final deal will not begin if threats continue following comments from US President Donald Trump, who affirmed that the US will reach an agreement or “finish the job” in Iran.
Meanwhile, reports of an attack on an Oil tanker on the Strait of Hormuz have heightened concerns, pushing investors’ enthusiasm about the lessening chances of immediate Federal Reserve (Fed) rate hikes to the background.
Technical Indicators: XAG/USD is turning bearish again
XAG/USD trades at $61.16, with momentum indicators entering bearish territory again, following Monday's rejection at the $63.30 area. The Relative Strength Index (14) on the four-hour chart is flirting with the 50 midline, while the Moving Average Convergence Divergence (MACD) dipped below zero and points to waning bullish pressure.
A clear break below the $60.40 session low would expose the 2026 lows between $55.70 and $56.70, which held bears last week. On the topside, initial resistance emerges at Monday's high near $63.33. An unlikely reaction above here would bring the June 22 high, at the $67.15 area, to the focus ahead of the mid-June highs, around $71.50.
(The technical analysis of this story was written with the help of an AI tool. Know more.)
Silver FAQs
Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets.
Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold's. As a yieldless asset, Silver tends to rise with lower interest rates. Its moves also depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAG/USD). 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.
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. A surge in demand can increase prices, while a decline tends to lower them. Dynamics in the US, Chinese and Indian economies can also contribute to price swings: for the US and particularly China, their big industrial sectors use Silver in various processes; in India, consumers’ demand for the precious metal for jewellery also plays a key role in setting prices.
Silver prices tend to follow Gold's moves. When Gold prices rise, Silver typically follows suit, as their status as safe-haven assets is similar. The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, may help to determine the relative valuation between both metals. Some investors may consider a high ratio as an indicator that Silver is undervalued, or Gold is overvalued. On the contrary, a low ratio might suggest that Gold is undervalued relative to Silver.
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