- Xag/USD slides to $ 31.13, while increasing negative risks
- Silver fails to seize $ 33.00, which leads to the unification and pressure of the sale.
- Price tests 100 days SMA at $ 31.20; Next main support in 50 days SMA from $ 30.89.
- It can reveal the collapse below $ 30.89 of SMA for 200 days at $ 30.47 and the lowest level in January at $ 29.70.
Silver ended the week in a lower note, a decrease of approximately 4 %, as traders booked profits amid stagnation in the United States after the decisive US data. At the time of this report, Xag/USD is traded at $ 31.13, a decrease of 0.32 %.
Xag/USD price expectations: Technical expectations
The gray metal showed signs of unification after failing to scan $ 33.00 on the basis of a daily closure, which may exacerbate a crowd of about $ 34.00. Instead, the SPOT XAG/USD price scanned the simple moving average for 100 days (SMA) at $ 31.20, and opened the door to test SMA for 50 days at $ 30.89.
Although the bears pushed prices to a decrease, buyers were reclaiming $ 31.00. However, the RSI indicator shows that sellers collect momentum.
Therefore, the first support for Xag/USD is SMA for 50 days at 30.89 dollars on more weakness. The latter breach will be offered for 200 days at $ 30.47. If the sellers invaded these two levels, the trend turns down, and the bears will prepare for the challenge of January 27 a day to $ 29.70.
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.
