Silver Prices Drop More Than 1%
Silver prices fell more than 1% to hit a one-week low as traders grappled with market uncertainty following US 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.
Until this news was released, Silver price was at $ 31,534
RECOMMENDATION
- Buy if price moves to $ 31,500
- Sell if price moves to $ 31,600
Resistance Level 2: $ 31,700
Resistance Level 1: $ 31,634
Support Level 1: $ 31,434
Support Level 2: $ 31,300
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
