Silver Drops Significantly
Silver prices fell more than 1% to fall below $33.50 an ounce on Thursday (4/3), hitting a one-week low as traders grappled with market uncertainty following U.S. President Donald Trump’s sweeping tariff measures.
Trump imposed a base tariff of 10% on all imports, with higher levies targeting major trading partners such as China (34%), the EU (20%), and Japan (24%). In addition, a 25% tariff on foreign-made cars took effect immediately. In defending the move, Trump framed the tariffs as a strategy to support domestic manufacturing and reduce the trade deficit.
RECOMMENDATION
- Buy if price moves to $33,435
- Sell if price moves to $32,835
Resistance Level 2: $34,011
Resistance Level 1: $33,806
Support Level 1: $33,526
Support Level 2: $33,321
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