Silver price receives support as weaker US data raise the odds of the Fed reducing rates in 2024. US Nonfarm Payrolls are expected to increase by 190,000 new jobs, down from the previous reading of 272,000. The potential for improvement in negotiations between Israel and Hamas may cap the upside for safe-haven Silver. Silver price recovers its recent losses, trading around $30.60 per troy ounce during the European session on Friday.
Silver is a key component in solar panels and other renewable energy technologies due to its conductivity in photovoltaic cells. Silver FAQs Why do people invest in Silver? Silver is a precious metal highly traded among investors. 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.
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Source: FXStreetNews - 🏆 14. / 72 Read more »