Silver price may extend losses as daily chart analysis indicates a bearish bias. The XAG/USD pair consolidates within the descending channel pattern. The 14-day RSI suggests that Silver price trades within a range between $29.70-$28.70. Silver price continues its losing streak for the third successive session, trading around $28.70 per troy ounce during the early European session on Thursday.
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.
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Source: FXStreetNews - 🏆 14. / 72 Read more »