Silver Holds Gains in Europe
Silver prices traded around $31.50 an ounce on Tuesday (2/4), holding near their highest level since early December as the escalating trade war between the U.S. and China boosted demand for safe-haven assets.
China announced retaliatory tariffs after President Donald Trump’s 10 percent tariffs on all Chinese imports went into effect. Earlier, Trump agreed to impose 25 percent tariffs on Canada and Mexico for a month after the countries agreed to take tougher action on immigration and drug trafficking.
RECOMMENDATIONS
- Buy if price moves to $31,924
- Sell if price moves to $31,324
Resistance Level 2: $32,524
Resistance Level 1: $32,224
Support Level 1: $31,024
Support Level 2: $30,724
Note: This article is only an analysis and not a definitive reference. Consider fundamental and technical developments in the trade before making any investment decisions.
Source: Newsmaker.id