Silver Heads for Weekly Gain on Tariff Concerns
Silver prices edged higher in the mid-day US session on Friday, after stronger-than-expected US jobs data reinforced expectations that the Federal Reserve may not cut interest rates aggressively this year.
Silver remained near a three-week high as investors digested the Fed’s cautious stance on rate cuts. The Fed’s uncertainty over 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 $30,509
- Sell if price moves to around $30,209
Resistance Level 2: $30,879
Resistance Level 1: $30,684
Support Level 1: $30,034
Support Level 2: $29,839
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
