Silver Continues To Gain Strength Amid Weaker Dollar
Silver rose on Wednesday (05/03), boosted by a weaker dollar and safe-haven buying amid concerns over a shift in U.S. trade policy.
Last week, U.S. President Donald Trump announced that tariffs on Canadian and Mexican imports would go into effect Tuesday, along with an additional 10% duty on shipments from China, bringing the cumulative tariffs for China to 20%. In response, reports suggested that Beijing was preparing to impose retaliatory measures on U.S. imports.
RECOMMENDATIONS
- Buy if price moves to $32,581
- Sell if price moves to $31,981
Resistance Level 2: $33,181
Resistance Level 1: $32,881
Support Level 1: $31,681
Support Level 2: $31,381
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