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 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 [...]
Silver continues to trade lower today below $17 as reports hitting the newswires suggest that the US and China may reach a compromise to delay the planned December 15 tariff hike. A Wall Street Journal report has stated that negotiators on both sides were working out modalities to delay the [...]
Silver prices were a tad lower today on upbeat Chinese PMI data, which helped to introduce risky sentiment into the market on Monday. Thus, XAGUSD was unable to continue its recovery move of Friday and fell along with gold, as Chinese Manufacturing PMI data came in slightly better than market [...]
US-China trade relations may have come under more strain as US President Trump signed the so-called “Hong Kong bill” into law, shortly after its passage by the US Congress. Hong Kong has always enjoyed a special trade status with the US, which insulate it from sanctions on Beijing passed by [...]
Silver prices are trading modestly lower on the day as risk sentiment improves slightly in the market from events on the US-China trade front. Chinese news outlet Global Times is citing Chinese experts knowledgeable about the situation as saying that the US and China are inching closer to finally inking [...]
Silver is trading lower this Wednesday after US Commerce Secretary downplayed comments by President Donald Trump’s on the US-China trade situation. This helped initiate cautious trade optimism on the day. Yesterday evening, US President Donald Trump had said he would "just raise tariffs" if a US-China deal did not happen. [...]
Silver (XAGUSD) is little changed after President Trump’s speech delivered yesterday did not reveal any significant details on a possible US-China trade deal. Silver is trading at 16.92, slightly up on the day as it attempts a pullback to the broken 50% Fibonacci retracement level at 16.98. U.S. President Donald...
Silver (XAGUSD) extended its downward move below the trendline of the up channel and closed below that line at 17.55. Today’s candle resumed lower and dipped to the intraday low of 17.37, but some bullish activity has since sent the candle higher and it looks set to challenge the violated [...]
Silver (XAGUSD) has started to trend downwards as the positive news from the US-China trade situation continues to filter through to the markets. At 3pm GMT, the Institute for Supply Management (ISM) will release the U.S. Non-Manufacturing (Services) Purchasing Managers Index. The outcome of this report could also provide some [...]
The price of silver (XAGUSD) is ticking higher this Thursday and is presently trading around $118.12 after the FOMC decision of yesterday and weaker-than-expected PMI data from China. Silver prices had experienced a bullish run having broken above the symmetrical triangle, but retreated as traders repositioned for yesterday’s Fed announcement. [...]