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Indonesia News Portal for Traders | Financial & Business Updates

1 January 2025 01:08  |

Silver Heads for Late 2024 Decline

Silver is set to decline in late 2024 as the gap between silver supply and demand deepens, highlighting the growing imbalance.

Despite bullish supply fundamentals, silver’s upside remains capped by Federal Reserve policy and a strong dollar. After cutting rates three times in late 2024, the Fed has signaled only 50 basis points of easing in 2025. This gradual approach is supportive of the dollar and keeps Treasury yields high, reducing the appeal of non-yielding assets like silver.

RECOMMENDATIONS

- Buy if price moves to around $28,980

- Sell if price moves to around $28,680

Resistance Level 2: $29,345

Resistance Level 1: $29,155

 

Support Level 1: $28,505

Support Level 2: $28,315

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

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