Silver's price edged up early in the North American session but remained below the psychological figure of $30.50 after posting losses of more than 3% on Wednesday.
Silver prices edge up 0.30%, trading at $30.35 after a sharp 3% decline. Technical outlook remains bullish, supported by the 50-DMA at $30.16 and RSI above the 50-neutral line. Key resistance at $30.50 and $31.00; support levels at 50-DMA and $29.48, with a critical psychological barrier at $29.00. Silver 's price edged up early in the North American session but remained below the psychological figure of $30.50 after posting losses of more than 3% on Wednesday.
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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