Silver price drops to $33.8 an ounce
Silver prices fell to $33.8 an ounce, down from a five-month high of $34.58 hit on March 28, as investors braced for President Donald Trump’s announcement of tit-for-tat tariffs set to take effect on Wednesday. Market participants weighed concerns over an escalating global trade war, which could dampen industrial demand for silver, against its appeal as a safe haven amid growing fears of an economic slowdown.
Silver was at $33,822 at the time of writing
RECOMMENDATION
- Buy if price moves to $33,750
- Sell if price moves to $33,900
Resistance Level 2: $34,050
Resistance Level 1: $33,922
Support Level 1: $33,722
Support Level 2: $33,600
Note:
This article is only an analysis and is not a definitive reference. Consider fundamental and technical developments in trading before making any investment decisions.