Silver Soars as the Fed Begins to Relax
Silver prices have rallied again as US bond yields fall and expectations mount that the Fed will cut interest rates at its December meeting. This has made non-yielding assets like silver attractive again, especially as its movements tend to be more aggressive than gold.
Going forward, silver's direction will be heavily influenced by two factors: expectations of a Fed rate cut and industrial demand, particularly from the solar energy sector. If sentiment for easing interest rates persists and silver production demand remains high, upside potential remains open, although the risk of a correction remains a concern after the rapid rally in recent days. (asd)
The price of silver at the time of this analysis was $53,353
- Buy if the price moves within the $53,579 range
- Sell if the price moves within the $53,272 range
Resistance 2: $54,019
Resistance 1: $53,799
Support 1: $53,139
Support 2: $52,919
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
