Silver (XAG/USD) meets with a fresh supply on Friday and reverses a major part of the previous day's goodish recovery move from over a three-week low.
Silver struggles to capitalize on the previous day’s goodish rebound from a three-week low. The technical setup favors bears and supports prospects for a further near-term downfall. A sustained strength above the $32.30-$32.35 area is needed to negate the negative bias. Silver meets with a fresh supply on Friday and reverses a major part of the previous day's goodish recovery move from over a three-week low.
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. 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.
Commodities Technical Analysis XAGUSD Silver
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