Silver (XAG/USD) regains positive traction during the Asian session on Thursday and moves further away from the weekly low, around the $29.70 area touched the previous day.
Silver attracts fresh buyers on Wednesday and reverses a part of the overnight retracement slide. The technical setup favors bullish traders and supports prospects for a further appreciating move. Weakness below the $30.00 mark could be seen as a buying opportunity and remain cushioned. Silver regains positive traction during the Asian session on Thursday and moves further away from the weekly low, around the $29.70 area touched the previous day. The white metal currently trades around the $30.
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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