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Indonesia News Portal for Traders | Financial & Business Updates

24 February 2025 17:42  |

Silver Rises Driven By Pressured Dollar

Silver prices rose above $32.50 an ounce on Monday (24/2), recovering some of the previous session's losses as the dollar came under pressure from a worsening economic outlook in the US and a stronger euro.

Meanwhile, ongoing trade and geopolitical uncertainties continue to fuel safe-haven demand for the precious metal.

Last week, US President Donald Trump's threat to impose tariffs on key sectors, including autos, semiconductors, pharmaceuticals and lumber, kept the market on guard.

RECOMMENDATIONS

- Buy if price moves to $32,790

- Sell if price moves to $32,190

 

Resistance Level 2: $33,390

Resistance Level 1: $33,090

 

Support Level 1: $31,890

Support Level 2: $31,590

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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