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Indonesia News Portal for Traders | Financial & Business Updates

17 January 2025 09:58  |

Silver Strengthens Amid Growing Dovish Fed Speculation

Silver prices surged higher in Europe on Thursday (1/16). The white metal gained as traders increased bets in favor of the Federal Reserve (Fed) delivering more than one interest rate cut this year.

Traders are pricing in two rate cuts this year, with the first coming in June instead of September, as had been expected before December inflation data was released.

Until this news was released, the price of Silver was at $ 31,788

RECOMMENDATION:

- Buy if the price moves to around $ 31,088

- Sell if the price moves to around $ 30,488

 

Resistance Level 2: $ 31,388

Resistance Level 1: $ 31,088

 

Support Level 1: $ 30,488

Support Level 2: $ 30,188

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

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