Silver outperforms gold at £43 an ounce as US dollar weakens

Silver outperformed gold on Monday, rising 0.81% to around $58.26 per ounce, or approximately £43.15 in sterling at current exchange rates. Gold climbed more gently, up just 0.27% to $4,054, or about £3,023 per ounce. The disparity widened the gold to silver ratio slightly, though both metals benefited from the same tailwind: a softer US dollar.

The DXY dollar index fell to just under 100 on the back of continued signs that US inflation has cooled and interest rate rises are unlikely in the near term. Because precious metals are priced in dollars, a weaker greenback makes them cheaper for holders of pounds sterling and typically lifts prices for non-US buyers. That mechanical boost was reinforced by progress on Iran. President Trump confirmed that peace talks with Iran will resume, a development that eased oil prices and took some inflation pressure off markets.

Traders are now focused on this week's US labour market data, with Friday's monthly jobs report due to be the headline event. For UK buyers, remember that the spot price of around £43 for silver is only the beginning. Your all-in cost includes the dealer premium, standard 20 per cent VAT, and any delivery or storage fees. This is general information, not financial advice.