Silver Gains Slightly as Year-End Ends
Silver moved above $29.50 an ounce, rebounding from a three-month low of $29 hit on Dec. 19 as markets reconsidered the expected level of hawkishness from the Fed next year. Lower-than-expected core PCE prices in November eased concerns about overly tight interest rates fueled by hawkish projections from FOMC members, lowering bond yields and supporting the precious metal.
As of this writing, silver is at $29,576
RECOMMENDATION
- Buy if price moves to at least $29,231
- Sell if price moves to at least around $28,951
Resistance Level 2: $29,976
Resistance Level 1: $29,776
Support Level 1: $29,276
Support Level 2: $29,076
DISCLAIMER
Note: This article is only an analysis and is not a definitive reference. Pay attention to the development of fundamental and technical aspects in transactions before making investment decisions.
Source: Newsmaker.id