Silver price (XAG/USD) surrenders a majority of the gains and drops to near $30.50 in Tuesday’s American session.
Silver price sacrifices some of its intraday gains as the US Dollar recovers strongly. Better-than-expected US Retail Sales Control Group data has resulted in the US Dollar’s recovery. Firm Fed rate-cut prospects keep the Silver price’s outlook strong. Silver price surrenders a majority of the gains and drops to near $30.50 in Tuesday’s American session.
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.
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