Silver Prices (XAG/USD) are trading in a mild positive bias on Monday, trimming some losses after the rejection from levels above $32.00 last week.
Silver trims some losses as US Dollar's rally halts The pair remains vulnerable following a more than 4% depreciation over the last three trading days, Upside attempted remain feeble, with the $30,30 support area still at a short distance. Silver Prices are trading in a mild positive bias on Monday, trimming some losses after the rejection from levels above $32.00 last week.
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. Its moves also depend on how the US Dollar behaves as the asset is priced in dollars . A strong Dollar tends to keep the price of Silver at bay, whereas a weaker Dollar is likely to propel prices up.
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