Silver Heads for Weekly Gain on Trump Tariff Concerns
Silver prices are holding in positive territory, nearing a three-week high as investors digest the Fed’s cautious stance on interest rate cuts. The Fed’s uncertainty around inflation and proposed tariffs under President-elect Trump have kept market participants on edge, bolstering demand for silver as a safe-haven asset.
In addition, strong industrial demand for silver, driven by its critical 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.
Until this news was released, the price of Silver was at the level of $ 30,300
RECOMMENDATION:
- Buy if the price moves to around $ 30,200
- Sell if the price moves to around $ 30,400
Resistance Level 2: $ 30,550
Resistance Level 1: $ 30,450
Support Level 1: $ 30,150
Support Level 2: $ 30,100
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
