Silver Surge Fueled by Global Supply Deficit
Silver prices posted strong gains on Wednesday (December 17th). This surge was driven by rising industrial demand, particularly in the solar energy, electric vehicle, and data center sectors, as well as strong investment demand amid expectations of a Fed rate cut and a weakening US dollar.
Supply tensions also reinforced the bullish trend, as tighter physical inventories and a long-term supply deficit contributed to the price of this white metal. (alg)
Silver price at the time of this analysis was released was at $65,351
- Buy if the price is at $65,491
- Sell if the price is at $65,211
Resistance 2: $66,091
Resistance 1: $65,791
Support 1: $64,911
Support 2: $64,611
Disclaimer
This article is analytical and does not constitute a reference. definitive. Please consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id