Silver Drops on Speculation Trump Policies Could Fuel Inflation
Silver (XAG/USD) prices paused their gains, with the non-interest-bearing metal facing a challenge with the US Federal Reserve’s (Fed) policy decision due later this week. There is widespread anticipation that the Fed will keep interest rates unchanged, marking the first pause in its rate-cutting cycle that began in September.
Uncertainties surrounding US President Donald Trump’s trade and immigration policies could prompt the Federal Reserve to remain cautious about 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, thereby reducing Silver’s appeal.
Furthermore, concerns about the recent rebound in the US Dollar (USD) weighed on precious metals including Silver. The greenback has regained some ground amid fresh tariff concerns after Trump announced plans to impose tariffs and sanctions on Colombia, following the country’s refusal to allow US military planes to carry deported migrants.
Until this News Release Silver Price is at $ 30,207
RECOMMENDATION
- Buy if price moves to $ 30,100
- Sell if price moves to $ 30,300
Resistance Level 2: $ 30,510
Resistance Level 1: $ 30,410
Support Level 1: $ 30,050
Support Level 2: $ 29,910
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
