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