Silver price (XAG/USD) appreciates to near $31.10 per troy ounce during the European hours on Thursday.
Silver price may appreciate as daily chart analysis suggests a possible momentum shift from bearish to bullish. The key resistance area appears at the descending channel’s upper boundary, aligned with the 14-day EMA at $31.27. The primary support would be found around its “throwback support” at the psychological level of $30.00. Silver price appreciates to near $31.10 per troy ounce during the European hours on Thursday.
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.
XAGUSD Technical Analysis Silver
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