Silver (XAG/USD) ticks lower during the Asian session on Thursday and erodes a part of the previous day's strong gains to the $30.65-$30.70 area, or its highest level in nearly two weeks.
Silver snaps a five-day winning streak to a nearly two-week top, albeit lacks follow-through. The technical setup favors bullish traders and supports prospects for further near-term gains. A convincing break below the $28.80-70 area is needed to negate the constructive outlook. Silver ticks lower during the Asian session on Thursday and erodes a part of the previous day's strong gains to the $30.65-$30.70 area, or its highest level in nearly two weeks.
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.
Commodities Technical Analysis XAGUSD Silver
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