Silver Moves Cautiously, Market Awaits Fed Direction
Silver prices moved within a limited range as investors weighed weak US employment data, which was not enough to fuel expectations of an imminent interest rate cut. The Federal Reserve's continued cautious stance has kept buying interest in silver at bay, although the precious metal remains supported by global economic uncertainty.
On the other hand, a relatively stable US dollar and a lack of significant decline in bond yields have restrained silver's movement. The market now awaits the release of inflation data and statements from Fed officials to determine whether silver will gain further momentum or remain flat. (az)
The price of silver at the time of this analysis was released was at $65,684
- Buy if the price is at $65,984
- Sell if the price is at $65,384
Resistance 2: $65,584
Resistance 1: $65,284
Support 1: $65,084
Support 2: $64,784
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
