There are several factors to consider when trading silver. Firstly, as it is against the US dollar, consider US interest rates, the overall state of the economy, and possible changes in any of them. Secondly, as a precious metal, it is used in jewellery production, in electronics, and for market play. Thirdly, it is exhaustible. The latter means it isn’t reproduced, and its price depends on extraction intensity. XAGUSD is not aliquid symbol in the market, but its movement is quite easy to predict. When nothing much happens, XAGUSD shows an accurate positive correlation with XAUUSD and negative correlation with USDJPY.
Spreads and conditions
- 5 000 Troy oz.