Silver Up 1%
Silver prices rose significantly on Thursday (2/1), the asset strengthened as the US bond yield rally stalled after surging more than 10% in the past four weeks. While market players are currently still looking for more clarity on the US Federal Reserve's interest rate path and President-elect Donald Trump's policies.
The 10-year US Treasury yield fell to near 4.55%. Lower bond yields on interest-bearing assets indicate lower opportunity costs for non-yielding assets, such as Silver, which increases its appeal.
Silver prices at the time of this news release +1.5% traded at the level of $29,303/ Toz.
RECOMMENDATION
- Buy if price moves to around $29,443
- Sell if price moves to around $29,163
Resistance Level 2: $29,743
Resistance Level 1: $29,443
Support Level 1: $29,163
Support Level 2: $28,863
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
