Silver prices (XAG/USD) rose on Thursday, according to FXStreet data. Silver trades at $30.29 per troy ounce, up 0.96% from the $30.00 it cost on Wednesday.

Silver prices have increased by 18.92% since the beginning of the year.

The Gold/Silver ratio, which shows the number of troy ounces of Silver needed to equal the value of one troy ounce of Gold, stood at 77.92 on Thursday, down from 78.51 on Wednesday.

Investors might use this ratio to determine the relative valuation of Gold and Silver. Some may consider a high ratio as an indicator that Silver is undervalued – or Gold is overvalued – and might buy Silver or sell Gold accordingly. Conversely, a low ratio might suggest that Gold is undervalued relative to Silver.