Silver (XAG/USD) regains positive traction during the Asian session on Wednesday and stalls the overnight modest pullback from the vicinity of the $30.00 psychological mark or over a one-month high.
Silver attracts some dip-buying following the overnight pullback from a one-month peak. The technical setup seems tilted in favor of bulls and supports prospects for further gains. Dips towards the $29.20 confluence hurdle breakpoint could be seen as a buying opportunity. Silver regains positive traction during the Asian session on Wednesday and stalls the overnight modest pullback from the vicinity of the $30.00 psychological mark or over a one-month high.
It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. 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.
Commodities Technical Analysis XAGUSD Silver
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