Silver Prices Continue to Rise
Silver (XAG/USD) continued its upward movement around $30.70 during Friday’s European session. The upward momentum was largely driven by rising geopolitical concerns.
Russian President Vladimir Putin’s recent warning of a potential nuclear-capable missile strike on Ukraine, following a large-scale attack on Ukrainian energy infrastructure, has fueled market uncertainty.
Meanwhile, the Middle East has seen some stabilization with the ceasefire between Israel and Hezbollah remaining stable. The ceasefire, facilitated by diplomatic efforts from the US and France, has allowed residents to return to their homes.
However, Israel’s ongoing military operation in Gaza remains a major geopolitical risk, contributing to volatility in global markets and affecting the prices of commodities such as silver.
RECOMMENDATION
- Buy if price moves at least to $30,837
- Sell if price moves at least around $30,537
Resistance Level 2: $31,207
Resistance Level 1: $31,012
Support Level 1: $30,362
Support Level 2: $30,167
DISCLAIMER
Note: This article is only an analysis and not a definitive reference. Pay attention to the development of fundamental and technical aspects in trading before making investment decisions.
Source: newsmaker.id
