Silver Breaks Another Record: Is This Rally Just the Beginning?
Silver continues its rally, reaching a record high of around $75 per ounce, driven by a combination of strong industrial demand, tight supply, and growing expectations of a Fed interest rate cut. This price increase is also reflected in the domestic market, where Antam silver rose by around Rp900 to Rp44,965 per gram, demonstrating investor interest in the white metal as a hedge and strategic commodity.
Why Silver Is Shining: Silver's fundamentals remain solid due to a structure of demand that exceeds supply, particularly from the technology, clean energy, and electronics sectors—while global inventories are dwindling. Furthermore, expectations of lower interest rates and a weakening US dollar are strengthening silver's appeal as a non-yielding asset, prompting many investors and ETFs to enter the market. Technical challenges may arise from short-term profit-taking, but the fundamental trend remains strong in the medium term. (az)
The price of silver at the time of this analysis was $74,386
- Buy if the price reaches $74,686
- Sell if the price reaches $74,086
Resistance 1: $75,286
Resistance 2: $74,986
Support 1: $73,786
Support 2: $73,486
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
