Global Crisis, Silver Prices Hit Record Highs!
Silver prices are currently trading above $74.49 per ounce in the US session on Friday (December 26th), extending a remarkable rally that began several months ago, fueled by geopolitical tensions and a weakening US dollar. This surge was fueled by continued speculation, supply dislocations in major trading centers, and a large influx of funds into silver-backed ETFs. Rising demand, from both the investment and industrial sectors, has made silver a leading choice amidst the global economy.
Silver is also supported by fundamental factors such as rising geopolitical tensions and concerns about global inflation. This metal is considered a safe-haven asset that can protect investment value in volatile market conditions. With projections of more economic and geopolitical tensions, many analysts expect silver prices to continue showing bullish strength in the coming months. (asd)
The price of silver at the time of this analysis is $74,492
- Buy if the price reaches $74,417
- Sell if the price reaches $74,086
Resistance 1: $75,131
Resistance 2: $74,689
Support 1: $73,975
Support 2: $73,805
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