XAGUSD: Silver Prices

In this section, you will find our latest Silver price news and analysis, you will also be able to read about its history, and find a live chart for technical analysis.

Just like gold, silver is a precious metal that is widely seen by investors as having intrinsic value. This means that the demand for it typically rises in the midst of concerns like slow economic growth, unemployment, political uncertainty, war, and the like. It is widely assumed that amid these problems this tangible asset will still hold value. With that said, XAGUSD tends to trade higher when investors have a cause for concern. For instance, the precious metal’s rally in 2010 was fueled by concerns surrounding the eurozone debt crisis and the potential contagion it posed.

What is XAGUSD?

XAGUSD is the financial symbol for the spot price of silver and in terms of US dollars. Prior to the 2008 financial crisis, there was very little demand for the precious metal. In fact, the spot price of silver averaged around $4.99 an ounce from September 1998 to May 2003. It then rose to $14.44 in 2006 to 2007. In 2008, it reached a low of $8.50 and rose to $49.53 in two years!

Secondly, because it is priced in US dollars, silver also shares an inverse relationship with the currency. This means that a stronger dollar could weigh it down while a weaker dollar could help it gain traction on the charts. Aside from the fact that it is pegged against the US dollar, another reason for this relationship is because the US dollar can also be viewed as a cheaper safe-haven alternative to precious metals. The currency has gained this reputation thanks to its Treasury bills and the fact that the US has never missed paying its debt on time.

It is also said that silver tends to react to manufacturing data. This is because unlike gold, silver actually has some industrial uses. The precious metal is used in automotive, electronics, and event photography.

Live XAGUSD Chart



Silver Price News

XAGUSD: Silver Prices

Silver Price Push Higher As Liquidity Improves

Silver price trades higher for the seventh consecutive trading session as the rebound from recent lows is intact as global markets recover from recent lows.

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Silver Price: XAGUSD Ichimoku Pattern Suggests An Imminent 7% Rally

Silver price has soared in the past few days as investors rush to precious metals after the decision by the Federal Reserve to initiate an open-ended quantitative easing program. In the past five days, the price of palladium, platinum, gold, and silver has risen by 39%, 16%, 8%, and 19%...

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XAGUSD Silver Price

Silver Price Rebound Accelerates Supported By Monetary Easing

Silver price (XAGUSD) rose on Tuesday as the rebound from recent lows continues supported by monetary and fiscal measures from central banks and governments around the globe. FED yesterday stepped in with more aggressive measures to combat the coronavirus outbreak impact on the business and economy....

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XAGUSD Silver Price

Silver Price (XAGUSD) Technicals Suggest a Potential Drop to 2008 Lows

Silver price is trading within a tight, 38-cent range in today’s trading. XAGUSD is currently trading at 12.47, slightly below where it opened at 12.60. However, with the US Senate due to vote on the government’s massive coronavirus relief program today, we could see silver price breakout of its consolidation...

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Silver Price Remains Under Pressure As Coronavirus Fears Persist

Silver price remains under pressure this Tuesday as the slew of high-impact data released on the day continue to be in the red. ZEW economic sentiment in the EU was far worse than expected, and the US retail sales saw a slump to -0.5% whereas, in the previous month, it...

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Silver Prices (XAGUSD) Slide As Industrial Demand Drops Off

Silver prices extended their slide for the 6th consecutive day as travel bans and visa restrictions imposed to the coronavirus outbreak kick in across the world. The drop off in industrial demand as a result of disruptions in the supply chains of car manufacturers and aeroplane makers continues to hound...

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