Silver Prices Drop Due to Trump's Policy
Silver prices (XAG/USD) fell on Tuesday (1/28). The non-interest-bearing 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 $ 30,161
RECOMMENDATION
- Buy if price moves to $ 30,461
- Sell if price moves to $ 29,861
Resistance Level 2: $ 30,761
Resistance Level 1: $ 30,461
Support Level 1: $ 29,861
Support Level 2: $ 29,561
Note: This article is only analysis and not a definitive reference. Consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id