Silver (XAG/USD) attracts some buyers during the Asian session on Tuesday, snapping a two-day losing streak and stalling the recent pullback from the $31.75 area or its highest level since May 31 touched last week.
Silver regains positive traction and stalls a two-day corrective slide from over a one-month top. The technical setup warrants some caution before positioning for a further intraday move up. A breakout through a short-term trading range is needed to confirm the near-term direction. Silver attracts some buyers during the Asian session on Tuesday, snapping a two-day losing streak and stalling the recent pullback from the $31.75 area or its highest level since May 31 touched last week.
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.
Commodities Technical Analysis XAGUSD Silver
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