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Indonesia News Portal for Traders | Financial & Business Updates

24 March 2025 17:25  |

Silver Strengthens on Safe Haven Demand

Silver prices rose above $33.10 an ounce on Monday (24/03), snapping a three-day losing streak, as safe-haven demand increased amid geopolitical tensions and economic uncertainty in the U.S.

Investors are closely monitoring U.S.-led efforts to end the Russia-Ukraine war, while fighting in the Middle East escalated following an Israeli airstrike on a Gaza hospital on Sunday that killed five people.

Silver also found support from a weaker U.S. dollar, as concerns mounted that President Donald Trump’s tariffs could slow economic growth.

This, in turn, could prompt the Federal Reserve to cut interest rates further, boosting demand for the precious metal.

RECOMMENDATION

- Buy if price moves to $33,485

- Sell if price moves to $32,885

 

Resistance Level 2: $34,085

Resistance Level 1: $33,785

 

Support Level 1: $32,585

Support Level 2: $32,285

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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