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Indonesia News Portal for Traders | Financial & Business Updates

6 January 2025 18:41  |

Silver Prices Move Positively on Chinese Economy

Silver prices rose around $30 per ounce on Monday (6/1) as investors cautiously await key US economic data that could influence the Federal Reserve's monetary policy outlook.

Among the upcoming reports, the market is mainly focused on the US monthly jobs report due on Friday, which could provide insight into whether silver will recover further.

The white metal is also getting support from the positive economic outlook in China, the world's largest silver consumer.

RECOMMENDATION

- Buy if the price moves to around $30,358

- Sell if the price moves to around $29,758

Resistance Level 2: $30,758

Resistance Level 1: $30,658

 

Support Level 1: $29,458

Support Level 2: $29,358

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

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