Silver price (XAG/USD) remains tepid on the second successive session, trading around $27.80 per troy ounce during the Asian hours on Tuesday.
Silver price consolidates as trades adopt caution ahead of interest rates decisions by central banks. Fed is expected to make no changes on Wednesday while BoJ may raise rates by ten basis points. A disappointing economic outlook in China weakens the Silver demand. Silver price remains tepid on the second successive session, trading around $27.80 per troy ounce during the Asian hours on Tuesday. Traders await US Federal Reserve’s policy decision scheduled for Wednesday.
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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