Silver Soars: An Astonishing 33% Surge and New Trends in the Gold-Silver Ratio

On August 13th, Beijing time, silver prices rose significantly, with the trading price reaching $38.52 per troy ounce, an increase of 1.60% from the previous day's $37.91. As of now, the cumulative increase in silver prices this year has reached 33.32%, showing a strong upward momentum. The ratio between silver and gold is also changing. The gold-silver ratio, which measures the number of ounces of silver needed to equal the value of one ounce of gold, decreased from 88.31 on Tuesday to 87.23 on Wednesday. This indicates that the rate of increase in silver prices is outpacing that of gold, and the gap between the two ratios is narrowing