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
Silver price (XAGUSD) trades 0.12% higher at $17.78 after yesterday’s sharp correction. The silver price gave up early gains after initial concerns for the coronavirus outbreak ease. Silver price had the same reaction as in the Iran-USA tensions. Initial spiked higher but soon gave up the gains and as the [...]
Silver price (XAGUSD) trades 0.15% higher at $18.02 as the rebound from two-week lows at 17.57 continues. The signing of the initial trade deal between the US and China improved risk appetite and investors shifted their attention to more risky assets. On the data front the Housing Starts (month over [...]
Silver price (XAGUSD) trades 0.67% higher at $17.89 as investors position themselves to get more clarity on the terms and details of phase one of the trade deal which is due to be signed later today. Precious metals and safe-haven assets were under selling pressure amid optimism about China-US trade [...]
Silver price action has halted its advance after tensions between the US and Iran cooled off last week. Focus has now shifted to the US-China trade front, where the Chinese delegation is expected to arrive in New York for the expected Wednesday signing of the US-China Phase I trade deal. [...]
Silver price rebounds today after two days of sharp losses as the tensions between Iran and USA ease. So now investors shift their attention to the fundamental data. The US Department of Labor reported yesterday that initial jobless claims dropped by 9,000 in comparison to the previous week to reach [...]
XAGUSD: Silver Prices price retreat today from three-month highs, giving up 0.06% at $18.11 as traders digest the latest developments in Iran-USA tensions. Safe-haven assets pulled back in late U.S. trading session as stock indices rebounded and some improved in sentiment amid the upcoming signing ceremony of the Phase One [...]
Silver prices are rapidly approaching the $18.50 mark after risk-off sentiment hit the markets on Monday. Safe haven buying and a new round of USD weakness kicked in fully after Iran announced that it would no longer respect the uranium enrichment limitations that were part of the nuclear deal it [...]
XAGUSD: Silver Prices price trading 0.91% higher at $17.57 making fresh seven-week highs on renewed disorderly Brexit fears that push also gold prices higher. Meanwhile China accused the USA that it interferes in its internal affairs, adding to already fragile relationships between the two superpowers. On the other hand, President [...]
Silver price is rebounding above $17 after the survey of manufacturing activity in the Philadelphia region contracted in December. XAUUSD was able to gain upside momentum after the Philly Fed Manufacturing Index dropped to 0.3, which was far lower than the 8.1 the markets expected and a steep fall from [...]
Silver prices have edged upwards from intraday lows this Friday afternoon after US President Trump walked back on a story attributed to the Wall Street Journal (WSJ) concerning the much anticipated US-China trade deal. Recall that in yesterday’s piece concerning this story, the WSJ had indicated that the US had [...]