Silver price (XAG/USD) extends losses for the second successive day, trading around $30.60 per troy ounce during the early European session on Monday.
Silver price loses ground following mixed data from China, the world's largest manufacturing hub. China's GDP grew by 4.7% in Q2, down from the previous expansion of 5.3% and below the expected 5.1%. The higher US Dollar puts pressure on Silver as USD-denominated commodities become more expensive for foreign buyers. Silver price extends losses for the second successive day, trading around $30.60 per troy ounce during the early European session on Monday.
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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