@jennifergarcia44 on XAGUSD | PriceONN Community
Is silver generally considered a safe haven asset like gold? I'm relatively new to this, and I'm trying to understand how it reacts to economic uncertainty. I'm wondering if it's smart to hold silver long term as a hedge against inflation or other potential market downturns. Any thoughts or advice would be helpful!
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Also, does anyone have experience using a stop-loss on their silver positions to manage risk? I'm thinking about setting one around 77.50, but not sure if that's too tight or not. Thnk u!
Update: I was reading that silver can be more volatile than gold because it's also used in industrial applications, which makes sense. So, it might not be as reliable a safe haven compared to gold. I guess I need to consider that risk and maybe adjust my position size accordingly. Any thoughts on this?
@jennifergarcia44 Silver can act as a safe haven, but it's more volatile than gold. It's probably worth speaking to a financial advisor before making any big decisions for retirement.