Silver Moves Positive In Europe
Silver (XAG/USD) prices extended its gains for the third straight day, trading around $29.60 per troy ounce during Asian hours on Friday (3/1). The ongoing rally was attributed to strong safe-haven demand amid persistent geopolitical tensions in the Middle East and the ongoing Russia-Ukraine conflict.
Axios cited three sources, who indicated that US President Joe Biden is reportedly exploring contingency plans to target Iran’s nuclear facilities if Tehran makes significant progress in developing a nuclear bomb before Donald Trump’s inauguration on January 20. The talks underscore growing concerns over Iran’s nuclear aspirations during the transition between administrations.
RECOMMENDATION
- Buy if price moves to around $29,720
- Sell if price moves to around $29,580
Resistance Level 2: $30,100
Resistance Level 1: $29,910
Support Level 1: $29,390
Support Level 2: $29,200
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