Silver Falls Slightly, But Recovery Remains Possible
Silver prices fell slightly on Thursday (December 18th) from recent highs as many investors took profits after a sharp rally this year. The white metal had surged on strong industrial demand and sentiment toward easing interest rates, but a small correction emerged as some market participants considered silver prices too high compared to gold. This decline is not a major weakening, but rather a normal trend after a rapid rise.
Analysts say the silver market is still awaiting key economic data such as US inflation and the Federal Reserve's interest rate direction, which could influence safe-haven demand. If the data shows softening inflation, silver has the potential to strengthen again as investors seek hedge assets. Therefore, despite the current decline, the potential for a silver price recovery remains as long as industrial demand and global market sentiment are supportive. (alg)
The price of silver at the time of this analysis was released was at $65,803
- Buy if the price is at $65,943
- Sell if the price is at $65,663
Resistance 2: $66,543
Resistance 1: $66,243
Support 1: $65,363
Support 2: $65,063
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
