Silver price (XAG/USD) extends its losses for the third consecutive day, trading around $28.50 per troy ounce during Tuesday’s Asian hours.
Silver price faces challenges as daily chart analysis suggests a bearish bias. The MACD line has crossed below the signal line, indicating potential downward pressure on the Silver price. Silver price may navigate the area around the lower boundary of the descending channel at the level of $27.70 level. Silver price extends its losses for the third consecutive day, trading around $28.50 per troy ounce during Tuesday’s Asian hours.
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.
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