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21 11, 2024

DOGE to Rally Past $2, But Not Before This Low-cost  $0.08 Token

By |2024-11-21T14:51:17+02:00November 21, 2024|Crypto News, News|0 Comments

SPONSORED POST*

Dogecoin’s journey through the crypto market is far from over. Analysts predict that DOGE, currently trading under $0.10, could see an 8x price surge, breaching the $2 mark in the near term if it mirrors its past explosive bull cycles. This projection draws attention to similar historical rallies, including its remarkable performance during 2021. However, before Dogecoin’s expected rise, a new contender, Rexas Finance (RXS), emerges as a significant disruptor with its $0.08 presale token, already creating ripples in the crypto market. While Dogecoin’s loyal community anticipates its next breakout, RXS’s innovative approach to real-world asset (RWA) tokenization might steal the spotlight, opening investment avenues across real estate, commodities, and art. Let’s explore what sets RXS apart and why it’s quickly gaining investor attention.

Dogecoin’s Price Potential

Dogecoin’s trajectory has always been tied to its vibrant community and periodic bull runs. Recent predictions suggest DOGE could replicate its previous meteoric rise, with the potential to surge beyond $2. Analysts believe this is possible if Dogecoin mirrors its past cycles, including its explosive 2021 run. During that cycle, DOGE climbed to record highs, making history as the go-to meme coin for investors seeking quick gains. Technical indicators like the bi-monthly RSI also hint at an impending rally. These metrics suggest that Dogecoin’s current price levels could serve as a launchpad for its next big move. While the projections are promising, they highlight a need for market catalysts to ignite the surge.

Rexas Finance Redefines Real-World Asset Tokenization

Rexas Finance (RXS) has positioned itself as a game-changer, offering a seamless bridge between real-world assets and blockchain technology. By leveraging tokenization, RXS enables investors to access diverse markets, including real estate, commodities, and collectibles, with ease and affordability. This approach democratizes access to asset classes traditionally limited to institutional players.

Through the Rexas Token Builder, users can tokenize real-world assets such as properties, gold, or fine art. For instance, a user in Asia could own a fractional share of a commercial property in Europe and earn rental income—all without leaving their home. Such capabilities unlock global investment opportunities, allowing individuals to diversify their portfolios effortlessly.

The Rexas Launchpad further supports this ecosystem by offering a platform for token creators to raise funds. Coupled with tools like the Rexas Quickmint Bot, which simplifies token minting, and Rexas GenAI and AI Shield, which enhance efficiency and security, the project eliminates barriers between blockchain and traditional assets.

Rexas Finance is gaining recognition in the crypto market due to its scalability and practicality. Its native token, RXS, has become the focus of a successful presale, with over $9.48 million raised so far. Unlike ventures backed solely by venture capitalists, Rexas opted for a public presale to give everyone a chance to join this revolution. The presale, now in stage six, has seen the token price rise 2.67x from its initial price, providing a 2.5x potential return upon launch. RXS tokens, built on the Ethereum blockchain, are also CertiK-audited, ensuring security and trustworthiness.

RXS has listed on CoinMarketCap and CoinGecko, platforms known for credibility and visibility. With plans to debut on three tier-one exchanges, RXS is carving out a niche that could propel it to double-digit valuations, making it a compelling alternative to traditional investments.

Conclusion: DOGE and RXS – The Future of Crypto Growth

Dogecoin’s anticipated rise beyond $2 marks a milestone that excites its community. Yet, the emergence of Rexas Finance introduces a transformative narrative in crypto investment. By pioneering real-world asset tokenization, RXS not only broadens access to high-value markets but also creates new investment opportunities that align with blockchain’s potential. As the presale progresses and token adoption increases, RXS stands as a frontrunner in innovation, promising substantial returns. For investors eyeing DOGE’s next rally, RXS offers a strategic entry into the evolving crypto market with a clear path to growth.

For more information about Rexas Finance (RXS) visit the links below:

Website: https://rexas.com

Win $1 Million Giveaway: https://bit.ly/Rexas1M

Whitepaper: https://rexas.com/rexas-whitepaper.pdf

Twitter/X: https://x.com/rexasfinance

Telegram: https://t.me/rexasfinance

*This article was paid for. Cryptonomist did not write the article or test the platform.

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21 11, 2024

Ethereum dApp volumes hit new highs: Can this help ETH rally above $3,200?

By |2024-11-21T14:40:37+02:00November 21, 2024|News, NFT News|0 Comments


  • Ethereum has registered the highest dApp volume in the last 30 days.
  • ETH’s price trend has been less active. 

Ethereum’s [ETH] decentralized application (dApp) ecosystem has witnessed an impressive surge in activity, with volumes climbing by 38% over the past month.

This growth signaled renewed interest in DeFi, NFTs, and gaming sectors. However, a critical question remains—will this on-chain activity drive a bullish breakout for ETH’s price?

The Ethereum network appears active with rising gas usage, increasing transaction volumes, and dApp engagement. Still, price action remains cautiously optimistic.

Ethereum dApp volumes on the rise

Recent data from DappRadar highlighted a steady increase in Ethereum dApp usage.

Total transaction volumes have reached $3.54 billion as of the 19th of November 2024, while the number of daily unique active wallets (UAW) surged to 78.53k, signaling growing participation in the ecosystem.

Ethereum dApp volumes hit new highs: Can this help ETH rally above ,200?

Source: DappRadar

Additionally, analysis reveals that in the last 30 days, its dApp volume rose to almost $150 billion, which was the highest.

The data also showed a 37.67% increase in the last 30 days, making its increase the most impactful.

DeFi protocols have been the largest contributors to this growth, benefiting from higher total value locked (TVL) as lending and trading activities gain momentum.

NFT marketplaces and blockchain-based gaming platforms have also played a significant role in driving transactions.

On-chain activity reflects increased demand

AMBCrypto’s analysis of Ethereum’s on-chain activity provided additional context to its growing dApp ecosystem.

According to Glassnode, gas usage has risen across various transaction types, including DeFi, NFTs, and stablecoin transfers. Further analysis showed that the DeFi sector dominates gas usage on the platform. 

Ethereum gas usageEthereum gas usage

Source: Glassnode

Furthermore, the analysis showed a recent spike in gas fees, averaging 50 Gwei. Historically, higher gas fees have coincided with spikes in on-chain activity, often preceding significant price movements for ETH.

Ethereum gas feeEthereum gas fee

Source: Glassnode

Ethereum’s price action and technical indicators

Despite the rise in network activity, Ethereum’s price action has remained subdued, trading around $3,114 at press time. The technical outlook revealed mixed signals as well.

Notably, the 50-day moving average of $2,687 sits above the 200-day moving average at $2,957, indicating an overall bullish trend. The MACD shows a slight bearish divergence, pointing to weakening momentum.

Meanwhile, the RSI at 59.35 reflected neutral conditions, suggesting that Ethereum’s price could move in either direction in the near term.

Ethereum price trendEthereum price trend

Source: TradingView

Ethereum must break above critical resistance at $3,200 to sustain its bullish trajectory.

On the downside, the $3,000 support level is crucial, as a breach could lead to a prolonged consolidation phase or even a short-term correction.

Will ETH follow the dApp volume surge?

The significant increase in Ethereum’s dApp volumes underscored strong network demand. However, translating this activity into sustained price growth depends on several factors.

The continued expansion of DeFi and NFT sectors could enhance Ethereum’s intrinsic value, driving investor interest.

Additionally, ecosystem upgrades such as EIP-4844 (Proto-Danksharding) are expected to improve scalability and network efficiency, potentially boosting Ethereum’s appeal.

Read Ethereum’s [ETH] Price Prediction 2024-25

However, challenges remain. High gas fees could deter further user participation, limiting the ecosystem’s growth.

Broader macroeconomic conditions and fluctuations in Bitcoin’s price could also weigh on Ethereum’s ability to capitalize on its network activity.

Next: Examining why NEIRO’s price might soon decline by 47%



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21 11, 2024

Solabia Nutrition’s Brainberry incorporated into Flow’s cognition supporting functional chocolate

By |2024-11-21T13:07:43+02:00November 21, 2024|Dietary Supplements News, News|0 Comments



Nutraceutical specialist Solabia Nutrition has teamed up with Czech dietary supplement company Flow to create Focus Chocolate 2.0.


The functional food is enhanced with Solabia’s cognition-boosting extract Brainberry — which has been proven to support concentration and psychomotor speed — as well as energy-boosting ingredients L-theanine and caffeine.


Brainberry is a standardised aronia berry extract rich in potent anthocyanins — polyphenols that have been clinically proven to support cognition and brain health. 


This product aims to cater to the growing demand for tasty functional foods with added health benefits, as consumers look for more than just a sweet treat.


To find out more about Focus Chocolate 2.0, NBR spoke with Billie Icheva, Marketing and Communications Manager at Solabia Nutrition. 



Combining health benefits with indulgence 


The dietary supplement market is highly saturated, with many companies competing to gain a reputation and be the best in their niche.


Therefore, Billie believes its paramount to find a way to stand out in this market: “A great way for supplement manufacturers to stand out is by doing something different and interesting, while also ensuring the product can offer clinically proven health benefits.”


“Combining nutraceuticals into indulgent foods such as chocolate is a great way to achieve this, as it’s more fun than taking a standard capsule and just as effective. Taking a capsule isn’t for everyone, and finding ways to get people excited about taking supplements is a valuable tool.”



Nootropics for cognition 


To effectively cater to consumers looking to boost their cognition, functional ingredient and dietary supplement producers must consider what the best ingredients for the job are. 


An group of nutraceuticals that are particularly interesting in this context, according to Billie, are the nootropics: “Since the end of 2023, nootropics have been rising in popularity, and we still see a lot about them at trade shows like Vitafoods Europe and SupplySide West. Solabia Nutrition wanted to cater to this market by providing Brainberry, and we’re glad to see the benefits of the ingredient in clinical trials.”


“It makes sense to add nootropics into chocolate, as many will eat it during the day to give them a burst of energy. By incorporating ingredients that actively support the mind, we can provide consumers with an enjoyable snack with an enhanced nutritional portfolio.”



 



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21 11, 2024

Falls toward 195.50 after breaking below nine-day EMA

By |2024-11-21T12:49:59+02:00November 21, 2024|Forex News, News|0 Comments

  • GBP/JPY may depreciate further as daily chart analysis suggests a bearish bias.
  • The nine-day EMA sits below the 14-day EMA, signaling continued weakness in short-term price momentum.
  • The immediate support appears at the lower boundary of the descending channel at 193.50 level.

The GBP/JPY cross pares its recent gains, trading around 195.80 during the early European hours on Thursday. The daily chart analysis indicates that the pair is positioned within the descending channel pattern, suggesting a bearish bias.

The 14-day Relative Strength Index (RSI) is slightly below the 50 level, confirming bearish momentum. Additionally, the nine-day Exponential Moving Average (EMA) is positioned below the 14-day EMA, indicating persistent weakness in short-term price momentum.

On the downside, the GBP/JPY cross may navigate the region around the lower boundary of the descending channel at the 193.50 level. A break below this level would reinforce the bearish bias and put downward pressure on the currency cross to revisit the two-month low at the 189.56 level, which was recorded on September 30.

Regarding the upside, the immediate barrier appears at the nine-day EMA at 196.46 level, followed by the 14-day EMA at 196.63 level. Further resistance appears at the upper boundary of the descending channel at 197.70 level. A successful breach above this channel could cause the emergence of the bullish bias and support the GBP/JPY cross to test the four-month high at 199.81 level, reached on October 30.

GBP/JPY: Daily Chart

British Pound PRICE Today

The table below shows the percentage change of British Pound (GBP) against listed major currencies today. British Pound was the weakest against the Japanese Yen.

  USD EUR GBP JPY CAD AUD NZD CHF
USD   -0.07% -0.06% -0.48% -0.09% -0.21% 0.06% -0.21%
EUR 0.07%   0.01% -0.38% -0.02% -0.14% 0.12% -0.15%
GBP 0.06% -0.01%   -0.37% -0.04% -0.16% 0.11% -0.16%
JPY 0.48% 0.38% 0.37%   0.37% 0.26% 0.49% 0.25%
CAD 0.09% 0.02% 0.04% -0.37%   -0.11% 0.15% -0.12%
AUD 0.21% 0.14% 0.16% -0.26% 0.11%   0.26% -0.01%
NZD -0.06% -0.12% -0.11% -0.49% -0.15% -0.26%   -0.27%
CHF 0.21% 0.15% 0.16% -0.25% 0.12% 0.01% 0.27%  

The heat map shows percentage changes of major currencies against each other. The base currency is picked from the left column, while the quote currency is picked from the top row. For example, if you pick the British Pound from the left column and move along the horizontal line to the US Dollar, the percentage change displayed in the box will represent GBP (base)/USD (quote).

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21 11, 2024

Are $1, $5 and $10 Technically Possible for Dogecoin with 146B Circulating Supply

By |2024-11-21T12:48:48+02:00November 21, 2024|Crypto News, News|0 Comments

Dogecoin has the potential to reach higher levels, but with a circulating supply of 146 billion tokens, proponents ponder where its ceiling could be.

The crypto market is one of opportunity, and investors often leverage this to anticipate rapid price surges. Dogecoin (DOGE), the original meme coin, pioneered the market genre in 2013 and was able to reach impressive heights during the 2021 bull run.

Dogecoin’s Historical Market Movements

Particularly, Dogecoin claimed a peak market cap of $98.4 billion in May 2021, when its price reached the all-time high of $0.7376 during that period amid persistent endorsements from Tesla CEO and billionaire Elon Musk.

The meme coin dropped from this lofty position as the bear market creeped in. However, it appears to be recovering. Notably, the closest Dogecoin has been to reclaiming its top valuation was when it rose beyond $0.43 last week, reaching a market cap of $64.4 billion.

An important aspect to note how its growing circulating supply would translate to higher market caps even with lower prices. Dogecoin’s inflation model adds 5 billion new tokens a year. As a result, the asset’s supply, which now sits at 146.84 billion, according to CoinMarketCap, could pose a problem to higher price spikes.

Notably, for the Dogecoin price to reclaim its previous highs, it would need higher capital now that its supply has increased. For instance, the $0.7376 all-time high price would require a market cap of $108.3 billion, no longer $98 billion, at the current supply.

Can Dogecoin Hit $1, $5 or $10 with Current Circulating Supply?

This has triggered concerns around the feasibility of Dogecoin reclaiming this peak. However, the prospect has not stopped some predictions around a possible Dogecoin rally to higher levels. One analyst recently discussed a price rally to $1 for Dogecoin.

However, with its 146 billion token supply, how technically possible is it for Dogecoin to claim the $1 mark or greater levels such as $5 and $10? At the $1 price, Dogecoin’s market cap would soar from the current $54 billion to a whopping $146 billion. Reaching this could prove difficult, but it remains feasible for the meme coin.

Meanwhile, the $5 might be more challenging. At its circulating supply of 146 billion tokens, Dogecoin’s valuation would spike to $734 billion, surpassing Ethereum’s market cap of $373.58 billion. This would make DOGE the second-largest crypto asset.

Further, the $10 price would take the meme coin’s market cap to a massive $1.46 trillion, close to Bitcoin’s current valuation of $1.788 trillion. While the $1 mark remains possible, higher prices like $5 and $10 might not be feasible in the current market cycle due to the massive capital required to reach the resulting market caps. 

DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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21 11, 2024

XAG/USD tests a key resistance zone above $31.00

By |2024-11-21T12:27:42+02:00November 21, 2024|Forex News, News|0 Comments


  • Silver price may appreciate as daily chart analysis suggests a possible momentum shift from bearish to bullish.
  • The key resistance area appears at the descending channel’s upper boundary, aligned with the 14-day EMA at $31.27.
  • The primary support would be found around its “throwback support” at the psychological level of $30.00.

Silver price (XAG/USD) appreciates to near $31.10 per troy ounce during the European hours on Thursday. The daily chart analysis suggests a possible shift in momentum from bearish to bullish as the pair attempts to break above the upper boundary of the descending channel pattern. 

Furthermore, the 14-day Relative Strength Index (RSI) is currently positioned just below the 50 level, indicating the potential for a momentum reversal. A decisive break above the 50 mark would confirm the development of a bullish bias.

In terms of the upside, the Silver price tests a key resistance zone near the upper boundary of the descending channel, which aligns with the 14-day Exponential Moving Average (EMA) at $31.27. A decisive break above this region could trigger the bullish bias, paving the way for a move toward the psychological resistance of $32.00.

On the downside, the Silver price may find support around its “throwback support” at the psychological level of $30.00. A break below this level could deepen bearish sentiment, potentially driving the price lower toward the descending channel’s bottom boundary at $28.50.

XAG/USD: Daily Chart

Silver FAQs

Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets.

Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold’s. As a yieldless asset, Silver tends to rise with lower interest rates. Its moves also depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAG/USD). A strong Dollar tends to keep the price of Silver at bay, whereas a weaker Dollar is likely to propel prices up. Other factors such as investment demand, mining supply – Silver is much more abundant than Gold – and recycling rates can also affect prices.

Silver is widely used in industry, particularly in sectors such as electronics or solar energy, as it has one of the highest electric conductivity of all metals – more than Copper and Gold. A surge in demand can increase prices, while a decline tends to lower them. Dynamics in the US, Chinese and Indian economies can also contribute to price swings: for the US and particularly China, their big industrial sectors use Silver in various processes; in India, consumers’ demand for the precious metal for jewellery also plays a key role in setting prices.

Silver prices tend to follow Gold’s moves. When Gold prices rise, Silver typically follows suit, as their status as safe-haven assets is similar. The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, may help to determine the relative valuation between both metals. Some investors may consider a high ratio as an indicator that Silver is undervalued, or Gold is overvalued. On the contrary, a low ratio might suggest that Gold is undervalued relative to Silver.



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21 11, 2024

Matcha Industry May Set Epic Growth Story

By |2024-11-21T11:06:26+02:00November 21, 2024|Dietary Supplements News, News|0 Comments


Matcha Industry

Data Insights Market published a new research publication on “Matcha Industry Insights, to 2032” with 232 pages and enriched with self-explained Tables and charts in presentable format. In the Study you will find new evolving Trends, Drivers, Restraints, Opportunities generated by targeting market associated stakeholders. The growth of the Matcha Industry was mainly driven by the increasing R&D spending across the world.

Some of the key players profiled in the study are:

DoMatcha, Mizuba Tea, PIQUE, Matcha DNA, Ippodo Tea, AIYA America Inc, AOI Tea, Breakaway Matcha LLC, Matcha Maiden, Midori Spring.

Get Free Exclusive PDF Sample Copy of This Research @ https://datainsightsmarket.com/report/matcha-industry-6199/sample-report?utm_source=OpenPR&utm_medium=Suraj

Scope of the Report of Matcha Industry

The size of the Matcha Industry was valued at USD 2.36 Million in 2023 and is projected to reach USD 3.14 Million by 2032, with an expected CAGR of 4.17% during the forecast period. The matcha industry revolves around the production, processing, and distribution of matcha, a finely ground powder made from specially grown and processed green tea leaves. Originating in China and perfected in Japan, matcha is known for its vibrant green color and unique cultivation process. Matcha is traditionally used in Japanese tea ceremonies but has gained global popularity due to its health benefits and versatility. It is rich in antioxidants, vitamins, and minerals, and is believed to boost metabolism, enhance mood, and improve concentration. The matcha market includes various products such as matcha tea, lattes, smoothies, and even culinary applications like matcha-flavored desserts and snacks.

The titled segments and sub-section of the market are illuminated below:

Product Type: Regular, Flavored, Form: Powder, Liquid, Distribution Channel: Hypermarket/Supermarket, Speciality Stores, Online Retail Stores, Others

Market Drivers:

Increasing Focus On Health and Wellness

Surge in Product Innovation

Market Trends:

Increasing Focus On Health and Wellness

Restrains:

Presence of Substitutes

What can be explored with the Matcha Industry Study?

• Gain Market Understanding

• Identify Growth Opportunities

• Analyse and Measure the Global Matcha Industry by Identifying Investment across various Industry Verticals

• Understand the Trends that will drive Future Changes in Matcha Industry

• Understand the Competitive Scenarios

– Track Right Markets

– Identify the Right Verticals

Region Included are: North America, Europe, Asia Pacific, Oceania, South America, Middle East & Africa

Country Level Break-Up: United States, Canada, Mexico, Brazil, Argentina, Colombia, Chile, South Africa, Nigeria, Tunisia, Morocco, Germany, United Kingdom (UK), the Netherlands, Spain, Italy, Belgium, Austria, Turkey, Russia, France, Poland, Israel, United Arab Emirates, Qatar, Saudi Arabia, China, Japan, Taiwan, South Korea, Singapore, India, Australia and New Zealand etc.

Have Any Questions Regarding Global Matcha Industry Report, Ask Our Experts@ https://datainsightsmarket.com/report/matcha-industry-6199/enquiry-before-buy?utm_source=OpenPR&utm_medium=Suraj

Strategic Points Covered in Table of Content of Global Matcha Industry:

Chapter 1: Introduction, market driving force product Objective of Study and Research Scope the Matcha Industry

Chapter 2: Exclusive Summary – the basic information of the Matcha Industry.

Chapter 3: Displaying the Market Dynamics- Drivers, Trends and Challenges & Opportunities of the Matcha Industry

Chapter 4: Presenting the Matcha Industry Factor Analysis, Porters Five Forces, Supply/Value Chain, PESTEL analysis, Market Entropy, Patent/Trademark Analysis.

Chapter 5: Displaying the by Type, End User and Region/Country 2019-2023

Chapter 6: Evaluating the leading manufacturers of the Matcha Industry which consists of its Competitive Landscape, Peer Group Analysis, BCG Matrix & Company Profile

Chapter 7: To evaluate the market by segments, by countries and by Manufacturers/Company with revenue share and sales by key countries in these various regions (2024-2032)

Chapter 8 & 9: Displaying the Appendix, Methodology and Data Source

finally, Matcha Industry is a valuable source of guidance for individuals and companies.

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Thanks for reading this article; you can also get individual chapter wise section or region wise report version like North America, Middle East, Africa, Europe or LATAM, Southeast Asia.

Contact US:

Craig Francis (PR & Marketing Manager)

Data Insights Market

Unit No. 429, Parsonage Road Edison, NJ

New Jersey USA – 08837

Phone: (+1 2017933837, +44 20 7097 9277)

sales@datainsightsmarket.com

About Author:

Data Insights Market is Global leaders of Market Research Industry provides the quantified B2B research to Fortune 500 companies on high growth emerging opportunities which will impact more than 80% of worldwide companies’ revenues.

Our Analyst is tracking high growth study with detailed statistical and in-depth analysis of market trends & dynamics that provide a complete overview of the industry. We follow an extensive research methodology coupled with critical insights related industry factors and market forces to generate the best value for our clients. We Provides reliable primary and secondary data sources, our analysts and consultants derive informative and usable data suited for our clients business needs. The research study enables clients to meet varied market objectives a from global footprint expansion to supply chain optimization and from competitor profiling to M&As.

This release was published on openPR.



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21 11, 2024

US Dollar Forecast: US Jobless Claims and Home Sales Shape Gold, GBP/USD, EUR/USD Outlook

By |2024-11-21T10:49:06+02:00November 21, 2024|Forex News, News|0 Comments

GBP/USD Price Chart – Source: Tradingview

GBP/USD is trading at $1.26435, down 0.06%, indicating a cautious bearish sentiment on the 4-hour chart. The pair remains below the pivot point at $1.26735, suggesting further downside risk.

Immediate support is seen at $1.26129, with additional levels at $1.25713 and $1.25309 offering a safety net. Resistance is positioned at $1.27154 and $1.27544, with a higher ceiling at $1.27934.

The 50-day EMA at $1.26718 is aligning with the pivot, reinforcing bearish momentum, while the 200-day EMA at $1.27991 highlights a stronger resistance zone above.

Growth Amid Financial Uncertainty

The Eurozone’s economic outlook remains precarious, as the ECB’s Financial Stability Review highlighted elevated vulnerabilities in financial markets and sovereign debt. German PPI met expectations at 0.2%, signaling stable producer prices, while the German 30-year bond auction showed slightly higher yields at 2.55%.

Upcoming Eurozone Consumer Confidence data (-13 forecast) is unlikely to shift sentiment. Elevated borrowing costs and weak fiscal fundamentals continue to weigh on corporate balance sheets, leaving the euro under pressure amidst geopolitical and policy uncertainty.

EUR/USD Technical Forecast

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21 11, 2024

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By |2024-11-21T09:05:34+02:00November 21, 2024|Dietary Supplements News, News|0 Comments


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21 11, 2024

XAG/USD rises above $31.00 due to escalated Russia-Ukraine conflict

By |2024-11-21T08:25:24+02:00November 21, 2024|Forex News, News|0 Comments


  • Silver prices have appreciated following Ukraine’s launch of British Storm Shadow cruise missiles into Russia.
  • Moscow has warned that using Western weapons to strike Russian territory far from the border would significantly escalate the conflict.
  • Silver prices could face challenges due to a bleak outlook for the metal’s industrial use.

Silver price (XAG/USD) retraces its recent losses from the previous session, trading around $31.00 during the Asian hours on Thursday. The rise in precious metal prices is attributed to safe-haven flows amid escalating tensions in the Russia-Ukraine war.

On Wednesday, Ukraine launched a volley of British Storm Shadow cruise missiles into Russia, marking the latest deployment of Western weaponry against Russian targets. This follows Ukraine’s use of US ATACMS missiles the previous day.

According to a Reuters report, video footage posted by Russian war correspondents on Telegram showed black smoke rising in a residential area of the Kursk region, which borders northeastern Ukraine.

At least 14 large explosions were heard, most preceded by the sharp whistle of what sounded like incoming missiles. Moscow has stated that the use of Western weapons to strike Russian territory far from the border would significantly escalate the conflict.

However, Silver prices have been under pressure due to a bleak outlook for the metal’s industrial use. On Wednesday, the People’s Bank of China (PBoC) Monetary Policy Committee (MPC) decided to keep the benchmark interest rate at 3.1% for November. Higher interest rates in China, a major global manufacturing hub for electronics, solar panels, and automotive components, are expected to dampen industrial demand for Silver.

Furthermore, market expectations indicate that the incoming Donald Trump administration will spur inflation, which could slow down the Federal Reserve’s rate cut trajectory, thus exerting downward pressure on non-interest-bearing assets like Silver.

Silver FAQs

Silver is a precious metal highly traded among investors. It has been historically used as a store of value and a medium of exchange. Although less popular than Gold, traders may turn to Silver to diversify their investment portfolio, for its intrinsic value or as a potential hedge during high-inflation periods. Investors can buy physical Silver, in coins or in bars, or trade it through vehicles such as Exchange Traded Funds, which track its price on international markets.

Silver prices can move due to a wide range of factors. Geopolitical instability or fears of a deep recession can make Silver price escalate due to its safe-haven status, although to a lesser extent than Gold’s. As a yieldless asset, Silver tends to rise with lower interest rates. Its moves also depend on how the US Dollar (USD) behaves as the asset is priced in dollars (XAG/USD). A strong Dollar tends to keep the price of Silver at bay, whereas a weaker Dollar is likely to propel prices up. Other factors such as investment demand, mining supply – Silver is much more abundant than Gold – and recycling rates can also affect prices.

Silver is widely used in industry, particularly in sectors such as electronics or solar energy, as it has one of the highest electric conductivity of all metals – more than Copper and Gold. A surge in demand can increase prices, while a decline tends to lower them. Dynamics in the US, Chinese and Indian economies can also contribute to price swings: for the US and particularly China, their big industrial sectors use Silver in various processes; in India, consumers’ demand for the precious metal for jewellery also plays a key role in setting prices.

Silver prices tend to follow Gold’s moves. When Gold prices rise, Silver typically follows suit, as their status as safe-haven assets is similar. The Gold/Silver ratio, which shows the number of ounces of Silver needed to equal the value of one ounce of Gold, may help to determine the relative valuation between both metals. Some investors may consider a high ratio as an indicator that Silver is undervalued, or Gold is overvalued. On the contrary, a low ratio might suggest that Gold is undervalued relative to Silver.



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