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Silver Forecast: Silver Finds Buyers Despite the Selloff

From dailyforex.com

The $25 level is a crucial area of support, with a lot of psychology attached to it. Buyers are likely to come in and pick up silver every time it dips, along with its cousin, gold. The US dollar is also in trouble, and there are concerns about the overall global economy, which is driving the current trend of wealth preservation. While silver is also an industrial metal, conversations about renewable energy and electronics are likely to take a backseat for the time being. The main driver of the market at the moment is wealth preservation, and traders around the world do not believe the Federal Reserve will stay tight ... (full story)

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  • Category: Technical Analysis