Silver Rises After Tariffs Implementation
Silver rose above $31 an ounce on Tuesday (04/03) after US President Donald Trump announced that tariffs on Canadian and Mexican imports would go into effect on Tuesday, along with an additional 10% duty on Chinese shipments, bringing the cumulative tariffs for China to 20%.
In response, reports suggested that Beijing was preparing to impose retaliatory measures on US imports. Meanwhile, ongoing supply and demand uncertainties continue to weigh on sentiment.
RECOMMENDATIONS
- Buy if price moves to $32,091
- Sell if price moves to $31,491
Resistance Level 2: $32,691
Resistance Level 1: $32,391
Support Level 1: $31,191
Support Level 2: $30,891
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