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