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Indonesia News Portal for Traders | Financial & Business Updates

10 March 2025 11:23  |

Silver Still Weakening in Asian Session

Silver price (XAG/USD) extends its losing streak for a third consecutive session, trading around $32.40 per troy ounce during Asian hours on Monday. The prices of the grey metal depreciate as softer economic data from China fuel demand concerns.

China’s Producer Price Index (PPI) dropped 2.2% year-over-year, following a 2.3% decline in the previous two months. This represents the slowest contraction since August 2024 but highlights persistent deflationary pressures in China's industrial sector, where Silver demand is significant.

The price of silver at the time of this news release was at $32,435/Toz.

RECOMMENDATION

- Buy if price moves to $32,832

- Sell if price moves to $32,232

Resistance Level 2: $33,432

Resistance Level 1: $33,132

 

Support Level 1: $31,932

Support Level 2: $31,632

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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