Silver price attracts sellers as recent US data reinforces the odds of nominal rate cuts by the Fed. The US Dollar receives support as Treasury yields continue to gain ground. The downside of the Silver could be restrained due to political uncertainty around the US presidential election. Silver price is under pressure as the US Dollar and Treasury yields continue to rally, driven by recent robust US economic data released on Friday. Silver price hovers around $33.
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. Which factors influence Silver prices? Silver prices can move due to a wide range of factors.