Silver price (XAG/USD) price moves above $29.00 per troy ounce during Friday’s Asian hours.
Silver price gains ground as market participants expect Fed’s Powell to deliver a statement about the possible rate cuts. Boston Fed President Susan Collins expressed her support for beginning interest rate cuts next month. The safe-haven Silver may advance further due to the ongoing deadlock in securing a truce between Israel and Hamas. Silver price price moves above $29.00 per troy ounce during Friday’s Asian hours.
Given Silver's importance in various industrial applications, this downturn in industrial demand is significant. 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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