Silver Remains in Positive Territory
Silver prices are holding in positive territory near their highest level in three weeks as investors absorb the Fed’s cautious stance on interest rate cuts.
The Fed’s uncertainty about inflation and proposed tariffs under President-elect Trump have kept market participants on edge, strengthening demand for silver as a safe haven asset. In addition, strong industrial demand for silver, driven by its important role in renewable energy and electronics technologies, has further boosted its value.
Supply constraints, including labor strikes and operational disruptions in mining, have exacerbated the supply deficit, putting upward pressure on prices. In addition, ongoing geopolitical tensions and economic policy uncertainty have contributed to volatility, prompting investors to seek stability in precious metals such as silver.
Silver prices at the time of this writing were at $30,073 / Toz.
RECOMMENDATION:
- Buy if price moves to around $30,033
- Sell if price moves to around $30,113
Resistance Level 2: $30,353
Resistance Level 1: $30,213
Support Level 1: $29,933
Support Level 2: $29,793
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
