Silver Skyrockets Amid Strong Dollar
Silver prices are currently rising on Thursday (December 11th) amid market expectations that the global interest rate easing trend will continue. The Fed's dovish interest rate cut has lowered yields on interest-bearing assets, making precious metals a popular investment destination.
Fundamentally, silver benefits not only as a safe haven but also as an industrial metal, whose demand is closely linked to the green energy and technology sectors, such as solar panels, electric vehicles, and electronic devices. Optimism that interest rate cuts can support economic activity and investment in these sectors further strengthens the outlook for future silver demand. (alg)
The price of silver at the time of this analysis was released was at $61,959
- Buy if the price is at $62,099
- Sell if the price is at $61,819
Resistance 2: $62,699
Resistance 1: $62,399
Support 1: $61,519
Support 2: $61,219
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