Silver Rises on Softer Dollar, Trump’s Tariff Threats
Silver prices climbed above $30.40 per ounce on Wednesday, recovering some losses from earlier in the week as the dollar pulled back from recent highs.
Investors were also awaiting key US economic data to assess the outlook for potential Federal Reserve interest rate cuts. Minutes from the Fed’s November meeting showed officials were optimistic about easing inflation and a resilient labor market, supporting the case for further rate cuts.
However, they indicated a preference for gradual adjustments. Markets are currently pricing in a 63% chance that the Fed will reduce rates by another 25 basis points next month. Meanwhile, investors continued to assess the impact of Trump’s tariff threats on demand for safe-haven assets, as well as the sustainability of a ceasefire deal between Israel and Hezbollah.
RECOMMENDATION
- Buy if the price moves at least to $30,661
- Sell if the price moves at least around $30,361
Resistance Level 2: $31,031
Resistance Level 1: $30,836
Support Level 1: $30,186
Support Level 2: $29,991
DISCLAIMER
Note: This article is only an analysis and not a definitive reference. Pay attention to developments in fundamental and technical aspects in transactions before making investment decisions.
Source: newsmaker.id
