Silver Prices Rise Amid Dovish Central Bank Signals
Silver (XAG/USD) prices rose on Thursday (1/30). The precious metal maintained its gains amid dovish signals from major central banks.
However, Silver’s gains were limited as the Fed delivered an aggressive message by removing language that indicated confidence in inflation moving towards its 2% target. In addition, the central bank acknowledged strong economic growth and labor market conditions.
As of this writing, Silver Prices are at $31,036
RECOMMENDATION
- Buy if price moves to $31,336
- Sell if price moves to $30,736
Resistance Level 2: $31,936
Resistance Level 1: $31,636
Support Level 1: $30,436
Support Level 2: $30,136
Note: This article is analysis only and is not a definitive reference. Pay attention to fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id