Silver (XAG/USD) remains under some selling pressure for the third successive day on Friday and touches a two-and-half-week trough during the Asian session.
Silver drifts lower for the third straight day on Friday and drops to over a two-week low. The technical setup favors bearish traders and supports prospects for a further downfall. A move beyond the $30.30-$30.40 support-turned-resistance will negate the negative bias. Silver remains under some selling pressure for the third successive day on Friday and touches a two-and-half-week trough during the Asian session. The white metal currently trades around the $29.55-$29.60 region, down 0.
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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