Silver price (XAG/USD) extends its losses for the second consecutive day, trading around $27.70 per troy ounce during Wednesday’s Asian session.
The downside of the Silver price could be restrained due to rising Middle East tensions. The BBC reported on Tuesday that the US has deployed a guided missile submarine to the Middle East. The lower-than-expected US PPI data have diminished the odds of a bigger rate cut by the Fed in September. Silver price extends its losses for the second consecutive day, trading around $27.70 per troy ounce during Wednesday’s 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.
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