Silver price (XAG/USD) retraces its recent losses from the previous session, trading around $31.00 during the Asian hours on Thursday.
Silver prices have appreciated following Ukraine's launch of British Storm Shadow cruise missiles into Russia. Moscow has warned that using Western weapons to strike Russian territory far from the border would significantly escalate the conflict. Silver prices could face challenges due to a bleak outlook for the metal's industrial use. Silver price retraces its recent losses from the previous session, trading around $31.00 during the Asian hours on Thursday.
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. Which factors influence Silver prices? Silver prices can move due to a wide range of factors.
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