Silver Rises Near $30
Silver (XAG/USD) prices approached $30.30 during North American trading hours on Monday (07/04). The white metal bounced back strongly after the bloodshed on Thursday and Friday as traders became increasingly confident that the Federal Reserve (Fed) could cut interest rates at its June meeting.
However, industrial demand for Silver has changed as Trump’s tariffs have stemmed concerns over the global economic outlook, especially in China, which has been hit with 54% tariffs.
RECOMMENDATION
- Buy if price moves to $30,074
- Sell if price moves to $29,474
Resistance Level 2: $30,674
Resistance Level 1: $30,374
Support Level 1: $29,174
Support Level 2: $28,874
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