Silver (XAG/USD) remains under heavy selling pressure for the second straight day on Thursday and dives to its lowest level since May 9, around the $27.80 region during the Asian session.
Silver drifts lower for the second straight day and plummets to a two-and-half-month low. The technical setup favors bearish traders and supports prospects for a further downfall. Any attempted recovery move is likely to attract fresh sellers near the $28.55-$28.60 area. Silver remains under heavy selling pressure for the second straight day on Thursday and dives to its lowest level since May 9, around the $27.80 region during the Asian session.
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
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Silver Price Analysis: XAG/USD rebounds as bulls target $29.00Silver price stages a comeback on Thursday and erases yesterday’s losses of 0.46%.
Read more »
Silver Price Forecast: XAG/USD bounces back above $29 with US Inflation under spotlightSilver price (XAG/USD) recovers sharply from a six-week low of $28.60 in Thursday’s New York session.
Read more »
Silver Price Forecast: XAG/USD drops toward $28.50 due to bearish biasSilver price (XAG/USD) continues its losing streak for the third successive session, trading around $28.70 per troy ounce during the early European session on Thursday.
Read more »
Silver Price Analysis: XAG/USD tumbles and remains bearish below $29.00Silver price fell on Wednesday as market participants awaited the release of the Fed’s preferred inflation gauge, the core Personal Consumption Expenditure (PCE) Price Index, after releases from major countries hinted at a reacceleration of inflation.
Read more »
Silver Price Analysis: XAG/USD collapses below 50-DMA as surrenders $29.00Silver price collapsed on Tuesday amid a strong US Dollar, sponsored by hawkish comments by Fed Governor Michelle Bowman.
Read more »
Silver Price Forecast: XAG/USD slides below $29.40 as US Dollar reboundsSilver price (XAG/USD) slumps below lower end of Monday’s trading range near $29.40 in Tuesday’s New York session.
Read more »