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Indonesia News Portal for Traders | Financial & Business Updates

17 January 2025 01:22  |

Silver Hits One-Month High

Silver prices jumped on Thursday, hitting a one-month high after softer U.S. inflation data supported expectations for further interest rate cuts from the Federal Reserve this year.

U.S. retail sales rose less than expected in December and initial jobless claims rose sharply in January, putting some pressure on the dollar.

The prospect of lower U.S. interest rates could boost demand for commodities by boosting economic growth and weakening the dollar.

RECOMMENDATION:

- Buy if price moves to around $30,970

- Sell if price moves to around $30,670

 

Resistance Level 2: $31,345

Resistance Level 1: $31,145

 

Support Level 1: $30,495

Support Level 2: $30,295

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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