Despite a promising start to the week, silver prices have taken a hit with XAG/USD dropping nearly 4% on the FXStreet index. The recovery of the US dollar, bolstered by strong economic data, has been cited as the primary factor for this downward turn.
Silver started out with a healthy growth trajectory, but was swiftly challenged by a rejuvenating greenback. The strength of the US dollar is often inversely proportional to precious metals and this week has been no exception.
Market analysts warn investors to brace for potential further drops as the dollar continues its ascension. However, they also point out that strong industrial demand could put a floor under prices. Planning smart investments taking this volatility into account is suggested by market experts. Read More
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