- Silver retreat from the highest level of USD 36.83 and trades at USD 36.16, because the US dollar and gives higher.
- Bears absorbing candles; The weekly near $ 3 $ 3.00 remains crucial for the stubborn structure.
- The division below USD 36.00 reveals USD 35.68 and USD 35.29; Bulls must recover USD 36.83 to resume growth.
Silver prices fall by more than 1% on Friday, before the weekend, after refreshing a five -day maximum USD 36.83, before USD 37.00. At the time of writing, XAG/USD, it trades at USD 36.16 due to the low recovery of the US dollar and the growing profitability of the US Treasury.
Price forecast XAG/USD: Technical perspectives
The silver price withdrew, creating “absorbed bears” candlestick The chart pattern that opens the door for testing lower prices. It should be said that reaching a weekly close above USD 36.00 maintains the latter at a mighty level of support, and buyers look at higher prices.
Nevertheless, in order to resume the border, the bulls must regain the peak on June 26 for USD 36.83. After exceeding, the next interest zone would be USD 37.00, followed by an annual peak of USD 37.31. And vice versa, if the silver slides below USD 36.50, expect a $ 36.00 test. Further decreases are at the lowest level of June 24 35.68 USD, followed by the latest cycle of the lowest 35.29 USD.
Chart of prices XAG/USD – daily
Silver often asked questions
Silver is a highly highly commercial metal among investors. It was historically used as a magazine of values ​​and exchange medium. Although less popular than gold, traders can turn to silver to diversify their investment portfolio, due to its internal value or as potential security during high inflation periods. Investors can buy physical silver, in coins or in bars or replace them via vehicles such as stock funds that follow their price on international markets.
Silver prices can move due to a wide range of factors. Geopolitical instability or fear of a deep recession can cause the escalation of silver price due to its sheltered status, although to a lesser extent than gold. As a resource without profitability, silver tends to grow at lower interest rates. His movements also depend on how the US dollar (USD) behaves because the resource is valued in dollars (xag/USD). A mighty dollar tends to maintain the price of silver, while the weaker dollar will probably boost prices. Other factors, such as investment demand, mining supply – silver is much more plentiful than gold – and recycling rates can also affect prices.
Silver is widely used in industry, especially in sectors such as electronics or solar energy, because it has one of the highest electrical conductivity of all metals – more than copper and gold. An boost in demand can boost prices, and the decline tends to lower them. Dynamics in the United States, Chinese and Indian economy can also contribute to price fluctuations: for the USA, and especially China, their enormous industrial sectors apply silver in various processes; In India, consumer demand for precious metal for jewelry also plays a key role in setting prices.
Silver prices usually follow gold movements. When gold prices are rising, silver usually follows it because their status as sheltered assets is similar. The ratio of gold/silver, which shows the number of ounces of silver needed to equalize the value of one ounce of gold, can support determine the relative valuation between the two metals. Some investors can recognize a high ratio as an indicator that silver is underestimated or gold is overstated. On the contrary, low ratio may suggest that gold is underestimated in relation to silver.
