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Indonesia News Portal for Traders | Financial & Business Updates

14 January 2025 01:51  |

Silver Down as Dollar Strengthens

Silver prices fell in midday U.S. trading on Monday, halting last week’s gains, as the dollar strengthened following stronger-than-expected U.S. jobs data last week.

The data dimmed expectations for further interest rate cuts by the Federal Reserve this year, and a stronger dollar makes dollar-denominated commodities such as silver more expensive for buyers holding other currencies, denting demand.

RECOMMENDATION:

- Buy if price moves to around $29.811

- Sell if price moves to around $29.511

 

Resistance Level 2: $30.176

Resistance Level 1: $29.986

 

Support Level 1: $29.336

Support Level 2: $29.146

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

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