Silver Regains Strength in Europe
Silver prices (XAG/USD) surged sharply in the European session on Tuesday (11/3). The white metal strengthened as the US Dollar (USD) faced a sharp sell-off, with investors being cautious about the outlook for the United States (US) economy due to President Donald Trump's tariff agenda.
The US Dollar Index (DXY), which tracks the value of the Greenback against a basket of six major currencies, fell near 103.35, the lowest level seen in four months. A lower US Dollar makes precious metals, such as Silver, more attractive to investors.
RECOMMENDATIONS
- Buy if the price moves to $32,808
- Sell if the price moves to $32,208
Resistance Level 2: $33,408
Resistance Level 1: $33,108
Support Level 1: $31,908
Support Level 2: $31,608
Note:
This article is only an analysis and is not a definitive reference. Pay attention to fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id