Silver price (XAG/USD) appreciates to near $29.00 per troy ounce during the early European hours on Friday.
Silver price gains ground ahead of the release of US economic data including Nonfarm Payrolls on Friday. The complex US economic scenario could boost the demand for less-riskier assets like Silver . Heightened concerns over China's economic outlook could negatively impact the demand for industrial metal. Silver price appreciates to near $29.00 per troy ounce during the early European hours on Friday.
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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