Silver (XAG/USD) builds on the overnight goodish rebound from the $26.45 area, or a three-month low and scales higher for the second successive day on Friday.
Silver attracts buyers for the second straight day and moves away from a multi-month low. The technical setup supports prospects for the emergence of fresh selling at higher levels. A sustained move beyond the 100-day SMA and $29.00 is needed to negate the bearish bias. Silver builds on the overnight goodish rebound from the $26.45 area, or a three-month low and scales higher for the second successive day on Friday. The white metal climbs to a four-day peak, around the $27.
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.
Commodities Technical Analysis XAGUSD Silver
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