Silver's price stages a recovery after diving to four-week lows of $28.67.
Silver at $29.22, up 0.40%; 'hammers' suggest strength above $29.00. Rising RSI indicates increasing buyer momentum; resistances at $29.42, $29.83, $30.00. Downside risks: support at $28.67, with further levels at 100-DMA and $28.00. Silver 's price stages a recovery after diving to four-week lows of $28.67. It climbs back above $29.00, registering gains of more than 0.40%, and trades at $29.22.
Which factors influence Silver prices? Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold's. As a yieldless asset, Silver tends to rise with lower interest rates. Its moves also depend on how the US Dollar behaves as the asset is priced in dollars .
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