Silver is under pressure again in the European zone
Silver prices fell to below $31.7 per ounce on Wednesday, underperforming other bullion assets amid uncertainty over Chinese industrial demand and weaker currencies for major silver exporters. Reports indicated that the Chinese government is willing to devalue the yuan in response to tariff threats from the US, consistent with its pledge to loosen monetary policy, making Chinese exports cheaper for foreign markets.
Until this News Released Silver Price is at level: $ 31,679
RECOMMENDATION
- Buy if price moves at least to $ 31,529
- Sell if price moves at least around $ 31,829
Resistance Level 2: $ 31,979
Resistance Level 1: $ 31,829
Support Level 1: $ 31,529
Support Level 2: $ 31,379
DISCLAIME
Note: This article is only an analysis and not a definitive reference, Observe the development of fundamental and technical aspects in transactions before making investment decisions.
Source: Newsmaker.id