Silver price (XAG/USD) extends its winning spree for the fourth trading session on Tuesday.
Silver price surges to near $30.00 as investors seem confident that the Fed will begin reducing interest rates in September. Firm Fed rate-cut bets weigh on the US Dollar and bond yields. Investors await the FOMC minutes release and Fed Powell’s speech at the Jackson Hole Symposium. Silver price extends its winning spree for the fourth trading session on Tuesday. The white metal soars to near the psychological resistance of $30.
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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