Silver Strengthens on Industrial Demand
Silver prices rose on Thursday (November 6th) as industrial demand from the technology and renewable energy sectors surged, mining supply failed to keep pace, and expectations of a Federal Reserve interest rate cut made non-yielding assets like silver more attractive. (alg)
The price of silver at the time of this analysis was $48,516
- Buy if the price moves within $48,656
- Sell if the price moves within $48,376
Resistance 2: $49,096
Resistance 1: $48,796
Support 1: $48,236
Support 2: $47,936
Disclaimer:
This article is analytical in nature and does not constitute a definitive reference. Please consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id