- Silver fell to $ 32.54 after failing to keep the level of $ 33.00.
- Mixed RSI signals, with the risk of the downside if 32.00 dollars support breaks.
- The following resistance is at $ 33.20, while the main support lies in 100 days SMA near $ 31.12.
Silver prices are declining on Friday and failed to take advantage of the fall of American revenues. According to 10 years, the revenues fell nearly eight basis points to 4.431 % at the time of writing this report. Xag/USD trades at $ 32.54, a decrease of 1.20 %.
Xag/USD price expectations: Technical expectations
The Xag/USD is in place, but the failure to finish the day/week above $ 33.00 has exacerbated silver diving. The bullish momentum faded, as shown in the RSI Index (RSI), which gives mixed signals. The relative strength indicator is upward, but the slope aims to the bottom.
Buyers should scan the highest level on February 20 at $ 33.20 to continue to climb. Once this is done, more bullish trend is seen, as the following resistance was the peak of February 14 at $ 33.39 before No. 34.00 dollars.
On the contrary, if Xag/USD decreases to less than $ 32.00, this will lead to a precious pressure on the precious metal. The first support will be the simple moving average for 100 days (SM) at 31.12, followed by SMA for 50 days and SMA for 200 days, each with 30.70 and 30.46.
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.
