Silver Again On Fire
Silver is riding the wave of safe-haven and commodity euphoria after gold hit a record. During the European session (January 12), silver was trading at $84,063. The main causes are a combination of: a weakening US dollar (due to the Fed's independence issue), market expectations of an interest rate cut, and geopolitical tensions in Iran, which have investors seeking safe haven assets. When interest rates fall and the dollar weakens, silver typically becomes more attractive because it feels "cheaper" to global buyers.
On the other hand, silver can also be boosted by the "industrial + AI" narrative, as this metal is widely used in electronics, solar panels, and technology components. So the current sentiment is: safe during market tensions, but also resilient when the economy and technology sectors are booming. Things to consider: US inflation data and Fed officials' comments—if interest rate cut expectations change, silver could move quickly. (asd)
The price of silver at the time of this analysis is $84,063
- Buy if the price reaches $84,415
- Sell if the price reaches $83,498
Resistance 1: $85,760
Resistance 2: $84,843
Support 1: $83,009
Support 2: $82,092
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
