Silver price (XAG/USD) skids below the crucial support of $27.00 in Tuesday’s European session.
Silver price weakens as the US Dollar and bond yields recover. The Fed is expected to cut interest rates by 50 bps in September. Investors’ concerns over Silver ’s demand as a metal have deepened. Silver price skids below the crucial support of $27.00 in Tuesday’s European session. The white metal weakens as investors worry about the growing demand for Silver as a metal, which has applications in various industries, such as Electric Vehicles , Renewable Energy, wires and cables, etc.
It has been historically used as a store of value and a medium of exchange. 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.
XAGUSD Fed Yieldcurve Supportresistance Silver
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