XAG/USD rallies to fresh long-term highs at $49.00
Silver (XAG/USD) correction found support at the mid-range of 47.00 on Tuesday and bounced up strongly on Wednesday, with precious metals buoyed by risk aversion amid political woes in Japan and France and the US government shutdown.
The US political impasse entered its second week with Senate Democrats and Republicans unable to find a way to restore government funding. Traders are starting to come to terms with a prolonged shutdown and are seeking shelter in safe-haven assets, such as precious metals.
Source : Fxstreet.com