Silver Down After PCE Data Release
Silver (XAG/USD) prices fell after rising more than 2% in the previous session, trading near $34.30 per troy ounce during Asian trading hours on Friday (3/28). Despite the decline, safe-haven demand for Silver remained strong amid rising risk aversion, driven by escalating trade tensions ahead of new US tariffs next week.
US President Donald Trump recently imposed a 25% tariff on foreign-made cars and auto parts, prompting threats of retaliation from the European Union and Canada. This has raised concerns about a wider trade dispute and potential global economic impact. RECOMMENDATION
- Buy if price moves to $34,367
- Sell if price moves to $33,767
Resistance Level 2: $34,967
Resistance Level 1: $34,667
Support Level 1: $33,467
Support Level 2: $33,167
Note:
This article is only an analysis and not a definitive reference. Consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id