Silver Continues to Hold Its Gains
Silver (XAG/USD) prices continued their uptrend on Thursday (1/9), continuing their rally that began in early January 2025. The white metal was trading around $30.40 per troy ounce during European trading hours this evening.
While uncertainty surrounding inflation and proposed tariffs under President-elect Trump’s administration has kept market participants on edge, which has strengthened demand for silver as a safe haven asset. In addition, strong industrial demand for silver, driven by its important role in the latest energy technology and electronics.
Silver price at the time of this press release was $30.441/ Toz.
RECOMMENDATION:
- Buy if price moves to around $30,581
- Sell if price moves to around $30,201
Resistance Level 2: $30,861
Resistance Level 1: $30,721
Support Level 1: $30,161
Support Level 2: $30,021
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