Silver Recovers on Safe-Haven Demand
Silver prices recovered some losses during Asian hours on Thursday (3/27). The metal gained traction as investors sought safe-haven assets following the announcement of US auto tariffs, which have raised concerns over potential retaliatory measures next week.
Risk-off sentiment increased after US President Donald Trump signed an order late Wednesday imposing a 25% tariff on auto imports, effective April 2, with billing starting the following day. However, imports of auto parts will receive a one-month reprieve.
RECOMMENDATION
- Buy if price moves to $33,996
- Sell if price moves to $33,396
Resistance Level 2: $34,596
Resistance Level 1: $34,296
Support Level 1: $33,096
Support Level 2: $32,796
Note:
This article is only an analysis and not a definitive reference. Consider fundamental and technical developments in the trade before making any investment decisions.
Source: Newsmaker.id