- Silver price earnings at nearly $ 33.30 in the midst of uncertainty on American-Chinese trade relations.
- They Bessent said China should trigger business discussions with them.
- Investors await data from American job openings for March.
The price of money (XAG / USD) is negotiated at nearly $ 33.30 during European negotiation hours on Tuesday. White metal wins while investors are starting to doubt whether de-escalation in the trade war between the United States (United States) and China is underway.
A new increase in uncertainty about US-Chinese trade relations came from comments from the US Treasury Secretary, Scott Bessent, declaring that Beijing should be the only one to start commercial negotiations. “I believe it is up to China to defuse, because they sell us five times more than we sell to them, Bessent said in an interview on the Squawk box of CNBC on Monday. However, Bessent said that trade discussions with other nations are going well.
Although Bessent's comments have indicated that the trade war will take place mainly between Washington and Beijing, the establishment should maintain increased global economic tensions. Theoretically, the price of money works sharply when the fears of a global economic turmoil increase.
Meanwhile, the US dollar (USD) increases data from American employment openings for Mars, which will be published at 2:00 p.m. GMT. The US dollar index (DXY), which follows the value of the greenback against six main currencies, increases to almost 99.30. Investors expect American employers to have displayed 7.5 million jobs, slightly less than 7.56 million seen in February.
This week, investors will pay particular attention to a multitude of American economic data, including the non -enlarged payroll (PNF), which will influence the expectations of the market for the prospects for monetary policy of the Federal Reserve (Fed).
Silver technical analysis
Silver Price aims to review a summit of more than three weeks around $ 33.70. The short -term perspectives of white metal remain optimistic because it holds the exponential 20 -day mobile average (EMA), which is negotiated about $ 32.73.
The 14 -day relative force index (RSI) has trouble exceeding 60.00. A new bullish momentum would emerge if the RSI breaks above this level.
By looking up, the March 28 summit of $ 34.60 will serve as key resistance for metal. Learning, the lowest of April 11 of $ 30.90 will be the key support area.
Daily silver graphics
Silver FAQ
Silver is a very exchanged precious metal between investors. It was historically used as a reserve of value and means of exchange. Although less popular than gold, traders can turn to money to diversify their investment portfolio, for its intrinsic value or as potential coverage during periods with high inflation. Investors can buy physical money, in coins or in bars, or exchange it via vehicles such as exchanged funds, which follow its price on international markets.
The prices of money can evolve due to a wide range of factors. Geopolitical instability or fears of a deep recession can increase the price of money because of its safety status, although to a lesser extent that gold. As an intake without yield, money tends to increase with lower interest rates. Its movements also depend on how the US dollar (USD) behaves as the asset is assessed in dollars (XAG / USD). A strong dollar tends to maintain the price of money remotely, while a lower dollar is likely to develop prices. Other factors such as investment demand, mining supply – money is much more abundant than gold – and recycling rates can also affect prices.
Silver is widely used in industry, especially in sectors such as electronics or solar energy, because it has one of the highest electrical conductivity of all metals – more than copper and gold. An increase in demand can increase prices, while a decrease tends to lower them. Dynamics in the United States, Chinese and Indian economies can also contribute to price oscillations: for the United States and in particular China, its major industrial sectors use money in various processes; In India, consumer demand for precious metal for jewelry also plays a key role in pricing.
Money prices tend to follow Gold movements. When gold prices increase, silver generally follows suit, because their original package status is similar. The gold / silver ratio, which shows the number of silver ounces necessary to match the value of an ounce of gold, can help determine the relative evaluation between the two metals. Some investors may consider a high ratio as an indicator that money is undervalued, or gold is overvalued. On the contrary, a low ratio could suggest that gold is undervalued in relation to money.
