Silver Rises, Fed's Dovish Sentiment a Trigger
Silver prices strengthened on Monday (December 8th), following positive sentiment in the precious metals market after expectations of a Federal Reserve interest rate cut re-emerged. The prospect of US monetary policy easing weakened the dollar and lowered bond yields, opening room for bullish movement in non-yielding assets like silver. Investor demand for the white metal also increased as risk sentiment improved in global markets.
In addition to monetary factors, concerns about industrial supply disruptions and increased capital flows into silver-based ETFs also strengthened the upward price trend. Analysts believe that as long as the Fed's expectations remain dovish and market volatility is controlled, silver has the potential to maintain its positive momentum in the short term. (alg)
The price of silver at the time of this analysis was released was at $58,317
- Buy if the price is at $58,457
- Sell if the price is at $58,177
Resistance 2: $59,057
Resistance 1: $58,757
Support 1: $57,877
Support 2: $57,577
Disclaimer
This article is analytical in nature and is not a definitive reference. Please consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id
