Silver, also known as the poor man’s gold, witnessed a significant drop in its value as the XAG/USD pair moved below the $32.50 benchmark. This unexpected turn of events is primarily credited to the easing of trade concerns across global markets. It appears that the worries regarding trade restrictions and tariffs are lessening, which triggered a stall in the precious metal’s bullish momentum.
In recent years, silver has been utilized as a safe haven for investors in times of financial and political uncertainties. However, with the simmering of trade anxieties, investors seem to shift their portfolios away from safe havens, hence impacting silver prices negatively. The quest for riskier, higher-yield investments inundates markets driving down demand for silver.
Despite this downturn, some financial analysts still perceive this as a temporary setback with silver prices expected to recover in the longer run. Relying on historical trends, they dictate potential rebounds of the silver market due to its intrinsic value and industrial applications. Read More
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