Silver prices (XAG/USD) dips slightly to around $34.30 during the Asian trading hours on Wednesday.
Silver price may regain its ground due to market caution ahead of the US presidential election. Silver prices faced challenges as the Israeli PM Netanyahu may discuss a diplomatic resolution to the war in Lebanon. The dollar-denominated Silver received support from a lower US dollar and Treasury yields ahead of US data releases this week. Silver prices dips slightly to around $34.30 during the Asian trading hours on Wednesday.
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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