Silver price (XAG/USD) remains tepid, trading around $27.20 per troy ounce during the Asian session on Tuesday.
Silver prices depreciate as a widespread selloff in financial markets reduces the metal's safe-haven appeal. The non-yielding Silver may strengthen as the Fed is expected to deliver a 50-basis point rate cut in September. San Francisco President Mary Daly noted that there is openness to the possibility of cutting rates in upcoming meetings. Silver price remains tepid, trading around $27.20 per troy ounce during the Asian session on Tuesday.
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. 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.
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