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Indonesia News Portal for Traders | Financial & Business Updates

1 March 2025 01:13  |

Silver Drops Back Below $31.00

Silver extended losses on Friday, weighed down by demand uncertainty, strong supply and a strong dollar. Investors also weighed the latest PCE report, which showed U.S. PCE prices rose 0.3% month-on-month and 2.5% year-on-year, while consumer spending unexpectedly fell 0.2% and income jumped 0.9%.

Adding to market concerns, President Donald Trump confirmed that his proposed 25% tariffs on Mexican and Canadian goods will go into effect on March 4, along with an additional 10% duty on Chinese imports.

- Buy if price moves to $31,248

- Sell if price moves to $30,648

 

Resistance Level 2: $31,848

Resistance Level 1: $31,548

 

Support Level 1: $30,348

Support Level 2: $30,048

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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