Silver price (XAG/USD) price consolidates around $29.50 per troy ounce during the European hours as traders assess the upcoming release of the FOMC Minutes on Wednesday.
Silver price moves sideways as traders adopt a cautious stance before FOMC Minutes for July’s policy decision. The downside of the non-yielding Silver could be restrained as the Fed could reduce rates by 100 basis points in 2024. The safe-haven Silver may face challenges as the US bridging proposal could narrow the gaps between Israel and Hamas. Silver price price consolidates around $29.
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.
XAGUSD Macroeconomics Commodities Silver
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