- Silver slides after the strong gathering, where traders reduce exposure before the main total economy publications in the United States next week.
- It opens near less than 34.23 dollars the door to a deeper decline, with $ 33.51 and $ 33.00 as major negative goals.
- The bulls need to get higher than $ 34.25 to re -test the high YTD at $ 34.58 and exceed 35.00 dollars.
Silver PRICE reaches the highest level in five months, but it decides to the number of $ 34 late on Friday, where merchants are preparing for the weekend, taking into account a crowded economic schedule in the United States (United States). At the time of writing this report, Xag/USD pair trades at $ 34.03, a decrease of more than 1 %.
Xag/USD price expectations: Technical expectations
Silver reached 34.58 dollars early, before retreating as merchants seem to book profits and risk the table. With the fall of the metal gray, he cleared the first support that was seen at $ 34.23, March 18th. If the sellers achieve less daily closure than the latter, Xag/USD can extend its losses under $ 34.00.
In this result, the first support will be the lowest daily level on March 26, which is $ 33.51. Once the next station exceeds it will be $ 33.00. On the other hand, if the silver remains over $ 34.25, the bulls may be ready to demand the highest level of the year to the date of $ 34.58, before testing $ 35.00
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.
