Silver Up Slightly After US Inflation Data
Silver prices edged up in midday US trading on Tuesday after falling more than 3% in the previous session, as the dollar weakened following weaker-than-expected US inflation data.
Looking ahead, investors are focused on US consumer price index data for further insight into the Fed’s policy direction. Despite the recent decline, silver has surged nearly 3% last week, marking its best weekly performance since mid-November. Silver continues to find support from strong industrial demand, particularly in renewable energy and electronics, as well as ongoing supply concerns.
RECOMMENDATION:
- Buy if price moves to around $29,954
- Sell if price moves to around $29,654
Resistance Level 2: $30,319
Resistance Level 1: $30,129
Support Level 1: $29,479
Support Level 2: $29,289
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
