- Silver trades at $ 32.35 after touching the highest level in three months from 33.39 dollars.
- RSI is still optimistic, but failure to confirm its highest levels raises caution.
- The main support at $ 31.92; The upward trend targets $ 32.50 and $ 33.00 of the psychological level.
Silver prices turn higher and registered gains more than 0.70 % on Monday, as US financial markets remained closed to celebrate the Day of Presidents. At the time of writing this report, Xag/USD is trading $ 32.35 with an Asian session starting on Tuesday, almost unchanged.
Xag/USD price expectations: Technical expectations
The gray metal turned from neutral to the highest bias, although the rapid rejection candle printed on February 14 after it reached the highest level at $ 33.39 can pave the way for more negative aspect.
The RSI index (RSI) is still ascending, but it should be noted that with the height of Xag/USD after $ 33.00, the relative strength index failed to record a higher height, indicating that the “negative difference” is waving on the horizon.
If the silver decreases to less than the February 17 oscillation decrease 31.92 dollars, the gray metal will be prepared to test the simple moving average for 100 days (SMA) at $ 31.15. The violation of the latter will expose SMAS 50 and 200 days, each with $ 30.60 and $ 30.42.
On the other hand, if the Xag/USD gather after $ 32.50, the psychological brand is $ 33.00 will be the main resistance. Once it exceeded, the YTD is higher at $ 33.39.
Xag/USD PRICE CHART – daily
Common silver questions
Silver is very precious metals circulating among investors. It has been used historically as a value of value and the exchange of exchange. Although it is less popular than gold, merchants may turn to silver to diversify their investment portfolio, compared to its fundamental value or as a possible hedge during high inflation periods. Investors can buy physical silver, in coins or in bars, or circulate through vehicles such as the boxes circulating in Excination, which follow their price on international markets.
Silver prices can move due to a wide range of factors. Geopolitical instability or fears of deep stagnation can make the price of silver escalating due to its safe position, although it is less than gold. As an inappropriate origin, silver tends to rise with low interest rates. Its movements also depend on how the US dollar (USD) is spent as the origin is priced in dollars (XAG/USD). The strong dollar tends to maintain the price of silver in the Gulf, while the dollar is likely to pay the weakest prices. Other factors such as demand for investment and mining offer – silver is much more abundant than gold – recycling rates can also affect prices.
Silver is widely used in the industry, especially in sectors such as electronics or solar energy, as it contains one of the highest electrical conductivity for all minerals – more than copper and gold. High demand in demand can increase prices, while the decline tends to reduce them. The dynamics in the United States and Chinese and Indian economies can contribute to price fluctuations: for the United States, especially China, its large industrial sectors use silver in various operations; In India, consumer demand for the precious jewelry also plays a major role in setting prices.
Silver prices tend to follow gold movements. When gold prices rise, silver usually follows its example, as its position as the similar safe origins. The percentage of gold/silver, which shows the number of ounces of silver needed to equal the value of one ounce of gold, to determine the relative evaluation between both minerals. Some investors may consider a high percentage as an indication that silver is dense with less than its value, or that gold is exaggerated. On the contrary, the low percentage may indicate that gold is less valuable for silver.
2025-02-17 22:50:12