Silver (XAG/USD) attracts fresh sellers during the Asian session on Tuesday and drops back closer to the overnight swing low, around the $31.65-$31.60 area. The white metal, however, trims a part of its intraday losses and currently trades just below the $32.00 mark, down 0.45% for the day.
Silver reverses the previous day's positive move, though it lacks follow-through.
The setup supports prospects for an extension of over a one-month-old uptrend.
Any meaningful slide could be seen as a buying opportunity and remain limited.
It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets.(Cay) Newsmaker23
Source: Fxstreet
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