Silver Prices Down Slightly
Silver fell below $29 an ounce, its lowest level since September, amid an aggressive Fed outlook and uncertain demand for industrial silver.
Inflation concerns prompted the FOMC to project fewer interest rate cuts in 2025, prompting the market to trim its exposure to non-yielding bullion.
Meanwhile, previous rate cuts by the Fed supported bullion enough to boost silver prices by 23% this year.
RECOMMENDATIONS
- Buy if price moves to around $29,002
- Sell if price moves to around $28,742
Resistance Level 2: $29,382
Resistance Level 1: $29,192
Support Level 1: $28,552
Support Level 2: $28,362
DISCLAIMER
Note: This article is only an analysis and not a definitive reference. Pay attention to the development of fundamental and technical aspects in the transaction before making an investment decision.
Source: Newsmaker