Silver price (XAG/USD) extends its gains for the second consecutive day, trading around $31.50 per troy ounce during the European hours on Wednesday.
Silver price receives support from the safe-haven flows amid escalating Middle-East tensions. Non-yielding Silver could be negatively impacted by prolonged high rates, as the diminishing likelihood of a Fed rate cut reduces its appeal. A decline in China’s manufacturing activity might have restrained the positive impact of fiscal and monetary stimulus on Silver demand. Silver price extends its gains for the second consecutive day, trading around $31.
However, weaker-than-expected demand growth in China, compounded by data indicating a decline in manufacturing activity, might have limited the upside potential of the grey metal. 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.
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