Silver price appreciates as Fed Chair Jerome Powell believes that the central bank is getting back on the disinflationary path. The non-yielding Silver might gain ground as recent US inflation data raised the expectations of the Fed reducing rates in 2024. Safe-haven Silver might attract investors as Israeli forces conducted airstrikes across the southern Gaza Strip on Tuesday. Silver price continues its winning streak for the fifth day, trading around $29.
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. Which factors influence Silver prices? Silver prices can move due to a wide range of factors.