Silver Slightly Up Still Above $32 An Ounce
Silver (XAG/USD) builds on the previous day's modest bounce from the vicinity of the $32.00 mark, or a nearly one-week low, and gains some positive traction during the Asian session on Tuesday. The white metal, for now, seems to have snapped a two-day losing streak.
Meanwhile, investors will shift focus towards Friday’s PCE report, the Fed's preferred inflation gauge. While the data is expected to show the slowest price growth since June, persistent inflationary pressures could keep the Fed cautious on rate cuts.
Gold price at the time of this press release was at $32,304/ Toz.
RECOMMENDATION
- Buy if price moves to $32,444
- Sell if price moves to $32,164
Resistance Level 2: $33,724
Resistance Level 1: $32,584
Support Level 1: $32,024
Support Level 2: $31,000. 884
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
