Silver's price rallied sharply by more than 1.80% on Tuesday amid rising tensions in the Middle East after Israel retaliated against Hezbollah’s strike over the weekend.
Silver price rallies above $28.00, bouncing from daily low of $27.63 amid Israel-Hezbollah conflict. Technical outlook shows bearish RSI; support levels at $28.00 and July 29 low of $27.31. Resistance at 100-DMA and 50-DMA could be tested if gains continue. Silver 's price rallied sharply by more than 1.80% on Tuesday amid rising tensions in the Middle East after Israel retaliated against Hezbollah’s strike over the weekend.
Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets. Which factors influence Silver prices? Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold's. As a yieldless asset, Silver tends to rise with lower interest rates.
XAGUSD Technical Analysis Silver
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