- Silver fell more than 1 % from 32.64 dollars, as the US Treasury’s revenue increased the gains.
- Technical expectations suggest possible unification between $ 31.00 and $ 32.60, with resistance at $ 33.00.
- The downward pressure may test the support levels at $ 31.10 and $ 31.00, near the critical averages.
Silver prices decline after reaching the highest weekly level of $ 32.64 and decreases less than the psychological number of $ 32.00 after issuing mixed American job data. The jump was in the yields of the US Treasury and the remaining Greenback width of the opposite winds of gray metals. Therefore, silver (Xag/USD) is trading at $ 31.82, with losses of more than 1 %.
Xag/USD: Technical expectations
Despite reaching the top of two months, it appears that Xag/USD is ready to standardize about $ 31.00 – $ 32.60 unless buyers have not paid prices above $ 33.00 an ounce. The momentum has turned into a short -term landing, as it was photographed by the RSI Index, but buyers are responsible because RSI is still above its neutral line.
XAG/USD needs to exceed $ 33.00 to extend the upward trend. The breach of this level can pay the prices for the October 29 test of $ 34.54, before challenging the peak last year at 34.86 dollars.
On the other side, the additional negative side appears under SMA for 100 days at $ 31.10, followed by the number $ 31.00. Once these levels are wiped, the next support will be SMA for 50 days at $ 30.47, followed by SMA for 200 days at $ 30.27
Xag/USD PRICE CHART – daily
Common silver questions
Silver is very precious metals circulating among investors. It has been used historically as a value of value and amid exchange. Although it is less popular than gold, merchants may turn to silver to diversify their investment portfolio, compared to its fundamental value or as a possible hedge during high inflation periods. Investors can buy physical silver, in coins or in bars, or circulate through vehicles such as the boxes circulating in Excination, which follow their price on international markets.
Silver prices can move due to a wide range of factors. Geopolitical instability or fears of deep stagnation can make the price of silver escalating due to its safe position, although it is less than gold. As an inappropriate origin, silver tends to rise with low interest rates. Its movements also depend on how the US dollar (USD) is spent as the origin is priced in dollars (XAG/USD). The strong dollar tends to maintain the price of silver in the Gulf, while the dollar is likely to pay the weakest prices. Other factors such as demand for investment and mining offer – silver is much more abundant than gold – recycling rates can also affect prices.
Silver is widely used in the industry, especially in sectors such as electronics or solar energy, as it contains one of the highest electrical conductivity for all minerals – more than copper and gold. High demand in demand can increase prices, while the decline tends to reduce them. The dynamics in the United States and Chinese and Indian economies can contribute to price fluctuations: for the United States, especially China, its large industrial sectors use silver in various operations; In India, consumer demand for the precious jewelry also plays a major role in setting prices.
Silver prices tend to follow gold movements. When gold prices rise, silver usually follows its example, as its position as the similar safe origins. The percentage of gold/silver, which shows the number of ounces of silver needed to equal the value of one ounce of gold, to determine the relative evaluation between both minerals. Some investors may consider a high percentage as an indication that silver is dense with less than its value, or that gold is exaggerated. On the contrary, the low percentage may indicate that gold is less valuable for silver.
