Silver price (XAG/USD) edges lower to $30.95 during the early European session on Monday.
Silver price trades in negative territory around $30.95 in Monday’s early European session, down 0.95% on the day. The US economy added fewer jobs in June, and Unemployment Rate rose to its highest level since late 2021. Fed’s hawkish stance or hotter-than-expected CPI inflation data might weigh on the white metal. Silver price edges lower to $30.95 during the early European session on Monday. The white metal declines on the back of renewed US Dollar demand and higher US bond yields.
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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