Silver Prices Drop On Trump’s Policy
Silver prices (XAG/USD) halted their gains on Monday (1/27). The metal faces challenges with the upcoming US Federal Reserve (Fed) policy decision this week. There is widespread anticipation that the Fed will maintain its current interest rates, marking the first pause in its rate-cutting cycle.
Uncertainty surrounding US President Donald Trump’s trade and immigration policies could prompt the Federal Reserve to remain cautious in cutting rates this year. Trump’s policies are considered inflationary, which may cause the central bank to keep interest rates higher for a longer period, reducing the appeal of Silver.
Until this News Release Silver Price is at $ 30,490
RECOMMENDATION
- Buy if price moves to $ 30,790
- Sell if price moves to $ 30,190
Resistance Level 2: $ 31,090
Resistance Level 1: $ 30,790
Support Level 1: $ 30,190
Support Level 2: $ 29,890
Note: This article is analysis only and not a definitive reference. Considering fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id