- The price of silver attracts some sellers towards 33.15 in Thursday’s European session, lowering 2.25% in the day.
- The positive perspective of silver prevails above the 100 -day key EMA, but greater consolidation cannot be ruled out.
- The immediate resistance level arises at $ 34.23; The first level of support to watch is $ 32.66.
The price of silver (XAG/USD) falls to about $ 33,15 during Thursday’s European session, pressed by some benefits. However, the fall for white metal could be limited since the president of the United States, Donald Trump, announced new global tariffs on Wednesday, increasing the fears of an expanding commercial war.
According to the daily chart, the Alcista de la Plata trend is maintained since the merchandise is well supported above the exponential mobile (EMA) average of 100 days. However, the 14 -day relative force index (RSI) is maintained around the midline, showing a short -term neutral impulse. This suggests that greater consolidation cannot be ruled out.
The immediate resistance level for white metal arises at $ 34.23, the maximum of March 18. Further north, the following obstacle to monitor is the 34.60 $ -34.70 $ area, which represents the maximum of March 28 and the upper limit of the Bollinger band. A decisive rupture above the mentioned level could pave the path to the psychological level of $ 35.00.
On the other hand, the first downward objective for the price of silver is observed at $ 32.66, the minimum of March 21. A sustained trade below the mentioned level could see a fall towards the next level of containment at $ 31.89, the EMA of 100 days. Any additional sale could exhibit $ 30.82, the minimum of February 28.
Daily silver price graph (XAG/USD)
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.
