- Silver capped by SMA from 50 days to $ 32.68 despite an intraday summit of $ 32.93; RSI turns flat near neutral.
- Breaking above $ 33.00 could pave the track at $ 33.68 and $ 34.00; Risk of drops of less than $ 32.22 targets $ 31.80 and $ 31.19.
- The feelings of the market appropriate by the American trade agreement and the hopes of de-escalation in American-Chinese relations before the weekend talks.
Siver Price held firm Thursday while risk appetite improved news from an American trade agreement, as well as in the hope that Sino-American tensions could be lowered, because the delegations of the two countries would meet in Switzerland this weekend. At the time of writing this document, XAG / USD is negotiated at $ 32.44, down 0.15%.
XAG / USD price forecasts: technical perspectives
Silver Price is negotiated below the simple 50 -day mobile average (SMA) at $ 32.68, a level of key technical resistance which capped the advance of the metal despite a daily top of $ 32.93. The momentum shows the lack of commitments of buyers and sellers as described by the relative force index (RSI), which hovers near its neutral line, turning flat. That said, XAG / USD would probably remain laterally in the short term.
For optimistic continuation, XAG / USD must erase the SMA of 50 days and the figure of $ 33.00. Once reached, the next level of ceiling will be a daily level of April 25 at $ 33.68, followed by $ 34.00. Conversely, if the money slides under $ 32.22, look for a SMA test of $ 100 days at $ 31.80, before the SMA of 200 days to $ 31.19.
XAG / USD price board – Every day
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.
