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Market & Economic Intelligence Platform Insight on Macro, Commodities, Equities & Policy

3 April 2025 15:00  |

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

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