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 TOP NEWS

Indonesia News Portal for Traders | Financial & Business Updates

10 February 2025 15:22  |

Silver prices rose again above $32 an ounce on Monday

Silver prices rose again on Monday, recovering some of the previous session’s losses as U.S. President Donald Trump’s tariff warnings boosted safe-haven demand for the metal. Trump announced a 25% blanket tariff on all steel and aluminum imports, effective today, with additional tariffs to be announced on Tuesday or Wednesday. The announcement coincided with China’s retaliatory tariffs on certain U.S. exports, which are set to take effect today. Meanwhile, German Chancellor Olaf Scholz said the EU was ready to respond “within an hour” if the U.S. imposes tariffs on European goods. Silver prices have also been boosted by expectations of stronger industrial demand, particularly from the renewable energy sector, along with expectations of a continued supply deficit

As of this News Release, silver prices are at $32,143

RECOMMENDATION

- Buy if price moves to $32,000

- Sell if price moves to $32,200

 

Resistance Level 2: $32,343

Resistance Level 1: $32,243

 

Support Level 1: $32,043

Support Level 2: $31,943

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

Source: Newsmaker.id

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