Silver Breaks $60, Can It Rise Again?
Silver prices broke a record above $60 per ounce and briefly touched around $60.92, driven by expectations that the Fed would cut interest rates again. So far this year, silver prices have more than doubled, even outpacing gold's rise.
The silver rally is also supported by tight supply, large inflows into silver ETFs, and silver's new status as a "critical mineral" in the US, which has resulted in some stocks being held domestically. At the last recorded time, the price of silver remained near $60.75 per ounce, while gold and the dollar index tended to be stable. (asd)
The price of silver at the time of this analysis was released was at $61,190.
- Buy if the price is at $60,815.
- Sell if the price is at $60,487.
Resistance 2: $61,307.
Resistance 1: $60,979.
Support 1: $60,323.
Support 2: $59,995.
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(asd)
