Silver Soars on Expectations of Kevin Hassett as New Fed Chair.
Silver prices rose on Friday, approaching a record high amid growing expectations that the US Federal Reserve will cut interest rates further.
The market now rates about an 85% chance of a 25 basis point rate cut in December, up sharply from about 39% a week ago, with three additional cuts anticipated by the end of 2026.
Expectations were boosted by reports that White House National Economic Council Director Kevin Hassett is the leading candidate for the next Fed chair, a choice investors see as aligned with President Donald Trump's preferences.
The price of silver at the time of this analysis was released was $50,130.
- Buy if the price moves below $50,030.
- Sell if the price moves below $50,180.
Resistance 2: $50,140.
Resistance 1: $50,270.
Support 1: $49,990.
Support 2: $49,850.
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
