Silver Soars Again, This Is No Ordinary Rise!
Silver prices rose on Monday (December 15th), boosted by a weaker US dollar and falling US bond yields. Spot silver rose 3% after recently hitting a record $64.65/oz.
Fundamentally, the silver rally is still supported by a combination of a supply squeeze and industrial demand (e.g., the technology and energy sectors), coupled with sentiment toward more metal-friendly monetary policy. However, the market is also starting to be wary of the risk of "overheating" (high valuations and potential profit-taking), especially if news of tariff policies emerges that alleviate supply concerns. (alg)
The price of silver at the time of this analysis was released was at $63,674
- Buy if the price is at $63,814
- Sell if the price is at $63,534
Resistance 2: $64,414
Resistance 1: $64,114
Support 1: $63,234
Support 2: $62,934
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