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Indonesia News Portal for Traders | Financial & Business Updates

31 January 2025 18:16  |

Silver Moves Positive Again

Silver prices (XAG/USD) recovered most of their losses in the European session on Friday (1/31). The white metal bounced back strongly as its outlook remains strong amid concerns that US President Donald Trump will impose 25% tariffs on Canada and Mexico.

Donald Trump has also threatened to impose 100% tariffs on BRICS in an attempt to create a new currency to reduce their dependence on the US Dollar.

As of this writing, Silver Prices are at $31,557

RECOMMENDATION

- Buy if price moves to $31,857

- Sell if price moves to $31,257

 

Resistance Level 2: $32,457

Resistance Level 1: $32,157

 

Support Level 1: $30,957

Support Level 2: $30,657

Note: This article is analysis only and is not a definitive reference. Keeping in mind the fundamental and technical developments in trading before making any investment decisions.

Source: Newsmaker.id

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