Why Are Investors Now Scrambled to Buy Silver?
Silver prices remain strong due to high industrial demand and limited supply. Silver is widely used in solar panels, electric vehicles, electronics, and other advanced technologies, while new production is not growing fast enough to meet market demand. This has led to a depletion of global physical silver stocks, supporting high prices.
Furthermore, expectations of low US interest rates and geopolitical uncertainty have made silver increasingly attractive as a safe haven asset. Investors tend to buy silver to protect their wealth, especially during times of global tension or market fluctuations, so demand remains strong and prices remain relatively stable. (az)
The price of silver at the time of this analysis is $80,630
- Buy if the price reaches $80,930
- Sell if the price reaches $80,330
Resistance 1: $81,530
Resistance 2: $81,230
Support 1: $80,030
Support 2: $79,730
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
