Silver (XAG/USD) attracts fresh sellers during the Asian session on Monday and currently trades around the $33.30 area, down nearly 1.25% for the day.
Silver kicks off the new week on a weaker note, albeit manages to hold above the $33.00 mark. The technical setup warrants caution for bears and before positioning for any further losses. A sustained break below the $33.00 mark should pave the way for some meaningful correction. Silver attracts fresh sellers during the Asian session on Monday and currently trades around the $33.30 area, down nearly 1.25% for the day. The white metal, however, manages to hold above a one-week low, around the $33.
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.
Commodities Technical Analysis XAGUSD Silver
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