Silver (XAG/USD) price edges lower to near $29.70 per troy ounce during the Asian session on Monday.
Silver price pares its intraday gains despite a dovish sentiment surrounding the US Fed. Fed’s Powell indicated that the time for rate cuts has arrived, but did not provide the extent of the reductions. The grey metal received support from the safe-haven flows amid rising Middle-East tensions. Silver price edges lower to near $29.70 per troy ounce during the Asian session on Monday.
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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