Silver Steady But Heading for Weekly Gains
Silver traded around $32.50 on Friday (07/03), heading for a weekly gain, supported by its appeal as a safe haven asset amid shifting global trade policies.
While President Donald Trump halted the 25% tariffs imposed this week on most goods from Canada and Mexico, Canada’s initial retaliatory tariffs remain in place, and China’s measures come into effect next week.
Meanwhile, U.S. jobs data painted a mixed picture, with the Challenger report showing layoffs jumped to a 2020 high, while jobless claims fell more than expected last week.
RECOMMENDATIONS
- Buy if price moves to $32,883
- Sell if price moves to $32,283
Resistance Level 2: $33,483
Resistance Level 1: $33,183
Support Level 1: $31,983
Support Level 2: $31,683
Note:
This article is only an analysis and not a definitive reference. Pay attention to fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id