- La Plata attracts some intra -intrades and low sellers for the second consecutive day.
- The configuration seems inclined in favor of bassists and supports the perspectives of additional losses.
- A sustained strengthening above the obstacle of 33.70 would cancel the negative bias.
La Plata (XAG/USD) struggles to capitalize on a modest rebound in the Asian session and retreat below the 33.00 brand, reaching a new daily minimum in the last hour.
From a technical perspective, the XAG/USD has shown resistance below the exponential mobile (EMA) average of 200 periods in the 4 -hour graph, which is currently near the 32.60 $ region. This area should act as a key pivot point. Since the oscillators in the daily chart have been losing traction and remain in negative territory in the 4 -hour graph, a convincing rupture below will be seen as a new trigger for bassists.
The XAG/USD could then accelerate the fall towards the following relevant support near the region of 32.10 -32.00 $. Some continuation sales will suggest that the recent recovery from the mark of 28.00, or the minimum of the year to date, has run out of impulse and allane the path for deeper losses. The subsequent fall could drag the white metal towards the intermediate support of $ 31.70 en route to the region of $ 31.55 -31.50 and eventually at levels below $ 31.00, or the 200-day SMA.
On the other hand, any positive movement above the immediate obstacle of $ 33.20 could attract some sellers near the $ 31.55 region and stay limited near the 33,70 $ barrier. A sustained strengthening beyond the latter should allow the XAG/USD to recover the 34.00 mark and climb to the resistance of 34.30 $. White metal could then test the resistance of 34.55 $ -34.60 $, or the highest level since October 2024 reached last month, before aiming to conquer the psychological brand of 35.00 $.
4 -hour silver chart
FAQS SILVER
Silver is a highly negotiated precious metal among investors. Historically, it has been used as a value shelter and an exchange means. Although it is less popular than gold, operators can resort to silver to diversify their investment portfolio, for their intrinsic value or as a possible coverage during periods of high inflation. Investors can buy physical silver, in coins or bullion, or negotiate it through vehicles such as the funds quoted in the stock market, which follow their price in international markets.
Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can cause the price of silver to shoot due to its safe refuge status, although to a lesser extent than that of gold. As an asset without performance, silver tends to climb with lower interest rates. Its movements also depend on how the US dollar (USD) behaves, since the asset is quoted in dollars (XAG/USD). A strong dollar tends to maintain the price of silver at bay, while a weaker dollar probably drives rising prices. Other factors such as investment demand, mining – silver supply is much more abundant than gold – and recycling rates can also affect prices.
Silver is widely used in the industry, particularly in sectors such as electronics or solar energy, since it has one of the highest electrical conductivities of all metals, surpassing copper and gold. An increase in demand can increase prices, while a decrease tends to reduce them. The dynamics in US economies, China and India can also contribute to price fluctuations: for the US and particularly China, its large industrial sectors use silver in several processes; In India, the demand for consumers for precious metal for jewelry also plays a key role in pricing.
Silver prices tend to follow gold movements. When gold prices go up, silver typically follows the same path, since their status as shelter is similar. The gold/silver ratio, which shows the number of ounces of silver necessary to match the value of an ounce of gold, can help determine the relative valuation between both metals. Some investors may consider a high ratio as an indicator that silver is undervalued, or that gold is overvalued. On the contrary, a low ratio could suggest that gold is undervalued in relation to silver.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
