Global silver hits eight-month low as gold-to-silver ratio climbs near 72

Silver fell to about $55.80 an ounce in global trading on Friday, July 17, 2026, marking its lowest level in eight months. Silver is down more than 20% from a month ago.

The drop came as global gold also stayed below $4,000 an ounce, but silver declined more sharply: the gold-to-silver ratio (the number of ounces of silver needed to equal the value of one ounce of gold) rose to about 72 on Friday, up from around 71.6 on Thursday. Analysts cite concerns that the Federal Reserve will keep interest rates elevated, along with the US-Iran war that has pushed up oil prices and inflation worries, as pressures weighing on precious metals.