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Indonesia News Portal for Traders | Financial & Business Updates

7 March 2025 11:16  |

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

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