XAGUSD - Spot Silver

About XAGUSD

XAGUSD refers to silver to US Dollar. It is one of the core metal traded in the forex and OTC market. XAG is commonly termed as silver which is prime metal, traded after gold, mostly used in making the jewellery, coin, ornaments, and other industrial instruments. Silver is widely produced in the American region, it stands one step ahead of gold for industrial users. The primary uses of this metal are in photography, electronic household items and jewellery. While the secondary uses are in the mining industry, fabrication, and in finished goods. Generally, the metals traders around the world use the silver spot and future contract for price hedging and risk management. It plays one of the important roles to balance their trading portfolio.

While USD denotes “US Dollar”. It is a major currency and has the largest economy in the world. It remains at the top of the list as core metal to trade. Like every other commodity, silver is subject to frequent prices change considering the factors of demand and supply.