Silver Gains Slightly Ahead Of Fed Rate Decision
Silver (XAG/USD) prices traded with slight gains on Wednesday (1/29). Uncertainty surrounding new tariff policies under US President Donald Trump’s administration could provide some support to the precious metal.
The Fed’s rate decision will play a key role in shaping the direction of Silver prices. The US central bank is expected to keep its benchmark interest rate unchanged at its January meeting in the current range of 4.25%–4.50%.
As of this writing, Silver is at $30,430
RECOMMENDATION
- Buy if price moves to $30,730
- Sell if price moves to $30,130
Resistance Level 2: $31,330
Resistance Level 1: $31,030
Support Level 1: $29,830
Support Level 2: $29,530
Note: This article is only an analysis and is not a definitive reference. Consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id