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Silver price strengthens dollar

ByVictoria

Silver price (XAG/USD) hits a fresh weekly high to near $33.20 during North American trading hours on Wednesday. The white metal strengthens as the US Dollar (USD) extends its downside on the United States (US) credit rating erosion in the wake of large debt levels and escalated fiscal imbalances.

Technically, a soft US Dollar makes the Silver price a value bet for investors. Additionally, concerns over US credit erosion improve the safe-haven demand of non-yielding assets, such as Silver.

Source – FX Street

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