Silver price inches higher to near $27.90 per troy ounce during the European session on Tuesday.
Silver price may approach the lower boundary of the descending channel at $26.40. Silver price consolidates within the descending channel pattern, suggesting a bearish bias. A breakthrough above the upper boundary of the descending channel could weaken the bearish bias. Silver price holds position around the $28.00 level per troy ounce during the European session on Tuesday.
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. 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.
XAGUSD Technical Analysis Silver
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