- The silver price earns approximately $ 32.60 at the expense of the US dollar.
- NFP data in the United States will affect market speculation of monetary policy expectations at the Federal Reserve Bank.
- Reducing trade tensions between the United States of China reduces demand for safe assets.
The price of silver (Xag/USD) rises to nearly $ 32.60 during European trading hours on Friday. White metal gains are acquired with US dollar correction (USD) before the NFP statements from the United States (United States) for April, which will be published at 12:30 GMT.
The US dollar index (DXY), which tracks the value of Greenback for six main currencies, decides to approximately 99.90 from a two -week height at 100.37. Technically, the lower US dollar makes the price of silver a bet for investors.
The American NFP report is expected to show that the economy has added 130,000 new workers, which is much lower than March reading 228 km. The unemployment rate is fixed at 4.2 %. Investors will pay close attention to US NFP data because they will indicate the impact of the mutual tariff announced by President Donald Trump on the so -called “Liberation Day” on April 2. Labor market data will affect market expectations in the Federal Reserve Cash expectations (Fed).
In addition, hopes for canceling the escalation of the trade war between the United States and China have supported the silver price. The demand for silver will increase as industrial inputs if the Chinese tariff dispute resolves. Market experts will review their economic expectations for China if they trade a trade deal with the United States, which was reduced earlier. Silver contains applications in various industries such as electric cars (EVS), mining, electronics, etc.
However, relieving trade tensions between the United States and China will reduce the demand for silver as a safe origin. Historically, the attractiveness of safe assets, such as silver, improves, amid increased global economic tensions.
Silver technical analysis
The silver price is struggled to reconsider the increase of more than three weeks about 33.70 dollars. The expectations close to the white metal are certain because it is less than the 20 -day SIA moving average (EMA), which trades about $ 32.65.
The 24 -day relative index (RSI) decreased below 50.00 after failing to collapse above 60.00, indicating that investors are no longer ascending anymore.
If we look up, the highest level on March 28 of $ 34.60 will act as a major mineral resistance. On the negative side, the lowest level on April 11 will be $ 30.90 is the main support zone.
Silver daily chart
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.
