Silver (XAG/USD) meets with some supply following an intraday uptick to the $27.25-$27.30 region and turns lower for the third successive day during the first half of the European session on Wednesday.
Silver turns lower for the third straight day, albeit holds above a multi-month trough. The technical setup favors bearish traders and supports prospects for deeper losses. A sustained strength beyond the $ 27.55-$27.60 might trigger a short-covering rally. Silver meets with some supply following an intraday uptick to the $27.25-$27.30 region and turns lower for the third successive day during the first half of the European session on Wednesday.
Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets. Which factors influence Silver prices? Silver prices can move due to a wide range of factors.
Commodities Technical Analysis XAGUSD Silver
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