Silver price (XAG/USD) plummets to near $30.70 from a six-week high of $31.80 in Friday’s European session.
Silver price tumbles to near $30.70 as investors turn cautious ahead of China ’s third plenum. Firm speculation for Fed rate cuts in September keeps the Silver price outlook firm. Investors await the US PPI data for more guidance on interest rates. Silver price plummets to near $30.70 from a six-week high of $31.80 in Friday’s European session. The white metal weakens as investors turn cautious ahead of China ’s third plenum meeting, which is scheduled for next week.
Silver four-hour chart Silver FAQs Why do people invest in Silver? Silver is a precious metal highly traded among investors. 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.
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