Silver Continues to Perform Well Entering Europe Sesion
Silver prices remained above $30 an ounce on Friday (10/1), nearing a three-week high as market participants weighed the Fed's cautious stance on interest rate cuts.
Meanwhile, the Fed's uncertainty about inflation and proposed tariffs under President-elect Trump have kept market participants nervous, which has strengthened demand for silver as a safe haven asset.
In addition, strong industrial demand for silver, driven by its important role in renewable energy technology and electronics, has further boosted silver's value.
Silver prices at the time of this news release +0.7% or are at the level of $30.327/ Toz.
RECOMMENDATION:
- Buy if price moves to around $30,467
- Sell if price moves to around $30,187
Resistance Level 2: $30,747
Resistance Level 1: $30,607
Support Level 1: $30,047
Support Level 2: $29,907
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
