XAGUSD (XAG/USD)
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Silver, precious metal
Silver has the status of the second most precious metal after gold. Similarly to gold it sees heavy use in the electronics and jewelry industries as well as in the production of flatware.
Price setting mainly depends on the growth of the corresponding sectors of industry and the demand formed by them as well as the supply capacities of the extraction industry. However; there is a strong correlation with gold prices as well.