Silver Rises as Gold-Silver Ratio Drops

On Tuesday, silver rose 1.4 percent to trade at $17.32 per ounce, according to Reuters. Following gold, the white metal increased in price in part because of lackluster US durable goods orders last month, which depressed the dollar and increased investor interest in precious metals as a safe haven.

In other news, the gold-silver ratio, which measures how many silver ounces are needed to purchase 1 ounce of gold, dropped from last week’s five-year peak. The ratio is now 71.1 compared to last week’s 72.7.