Silver Flat as Investors Await Key US Data
Silver prices held steady above $30 an ounce on Thursday, still near a three-week high as investors digested the Fed’s cautious stance on interest rate cuts and awaited key jobs data due on Friday.
The Fed’s uncertainty about inflation and proposed tariffs under President-elect Trump has kept market participants on edge, boosting demand for silver as a safe-haven asset.
In addition, strong industrial demand for silver, driven by its key role in renewable energy and electronics technologies, has further boosted its value.
RECOMMENDATION:
- Buy if price moves to around $30,284
- Sell if price moves to around $29,984
Resistance Level 2: $30,654
Resistance Level 1: $30,459
Support Level 1: $29,809
Support Level 2: $29,614
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.id