Silver price (XAG/USD) plunges below $31.00 in European trading hours on Monday.
Silver price falls sharply below $31.00 after Scott Bessent’s appointment as US Treasury Secretary by President-elect Donald Trump. The impact of Bessent’s pick was also viewed on the US Dollar and bond yields. Investors await the US PCE inflation data for fresh guidance on interest rates. Silver price plunges below $31.00 in European trading hours on Monday. The white metal weakens after the appointment of hedge fund manager Scott Bessent as Treasury Secretary by President-elect Donald Trump.
00-60.00 range, suggesting a sideways trend. Silver daily 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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