The price of silver is currently hovering around $46 per ounce, up slightly after a correction earlier this week. This increase occurred amid cautious market sentiment, which is still monitoring the risk of a US government shutdown and the direction of the Fed's interest rates. Investors are starting to look again to silver as an alternative safe haven asset, although its movements have not been as aggressive as gold.
While physical demand remains stable, silver's recent movements have been more influenced by global sentiment and inflows into precious metal ETFs. The market is also awaiting US employment data later this week, which could change interest rate expectations, automatically driving silver prices. For now, market participants are tending to wait and see. (Ads)
The price of silver at the time of this analysis was released was $46,657.
Disclaimer:
This article is analytical in nature and is not a definitive reference. Please consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id
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