Silver Edges Higher on US Economic Signals
Silver prices edged higher in Asia as traders anticipated signals on the US economy under President-elect Donald Trump. Silver recovered from earlier losses amid low trading volumes ahead of the New Year holiday.
Potential tariffs and trade policies from Donald Trump could trigger a trade conflict, boosting risk-off sentiment and supporting demand for safe-haven assets such as Silver. However, the prospect of fewer Fed rate cuts in 2025 may limit the upside in non-yielding Silver.
RECOMMENDATIONS
- Buy if price moves to around $29,613
- Sell if price moves to around $29,333
Resistance Level 2: $29,863
Resistance Level 1: $29,658
Support Level 1: $29,288
Support Level 2: $29,083
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