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