Silver Nears Intraday High in European Trading
Silver prices followed gold’s gains in the European session on Tuesday (10/12), trading near $31.90 and hitting an intraday peak of $32.04. The metal’s safe haven status and close correlation with gold have supported its gains.
Market uncertainty surrounding geopolitical instability and U.S. economic policy has boosted silver’s appeal as a store of value. However, like gold, silver’s rally has faced resistance from a stronger U.S. dollar.
The People’s Bank of China’s gold purchases reflect broader global demand trends. Coupled with concerns about potential inflation stemming from Trump’s policies, this has strengthened gold and silver as preferred hedges against economic and geopolitical uncertainty.
RECOMMENDATION
- Buy if price moves at least to $ 31,951
- Sell if price moves at least around $ 31,651
Resistance Level 2: $ 32,316
Resistance Level 1: $ 32,126
Support Level 1: $ 31,476
Support Level 2: $ 31,286
DISCLAIMER
Note: This article is only an analysis and not a definitive reference. Pay attention to the development of fundamental and technical aspects in transactions before making investment decisions.
Source: Newsmaker.id
