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Indonesia News Portal for Traders | Financial & Business Updates

24 February 2025 12:57  |

Silver Moves Higher In Asian Session This Week

Silver (XAG/USD) prices moved higher to around $32.60 during Asian trading hours on Monday (24/2).

A weaker US Dollar (USD) provided some support to the USD-denominated commodity prices. Meanwhile, uncertainty and concerns over US President Donald Trump's tariff plans could increase inflows of safe-haven assets, contributing to the rise in silver prices.

In addition, the market will focus on the release of the US Personal Consumption Expenditure (PCE) Price Index, the Fed's preferred measure of inflation, on Friday this week.

Silver prices when this news was released were at $32,630/Toz.

RECOMMENDATION

- Buy if price moves to $32,770

- Sell if price moves to $32,490

 

Resistance Level 2: $32,920

Resistance Level 1: $33,050

 

Support Level 1: $32,350

Support Level 2: $32,050

Note:

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

Source: Newsmaker.id

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