Silver Rises on Trump's Reciprocal Tariff Policy
Silver prices rose above $31 an ounce on Thursday, extending gains for a second session as commodities bounced back after Trump’s reversal of his tit-for-tat tariff policy.
Trump lowered new tariffs on imports from most U.S. trading partners to 10% for 90 days to allow for trade negotiations.
However, major Chinese consumers remain subject to steep 125% tariffs amid ongoing tit-for-tat escalations between Washington and Beijing—maintaining a level of geopolitical and economic uncertainty that continues to support safe-haven demand.
RECOMMENDATIONS
- Buy if price moves to $31,283
- Sell if price moves to $30,683
Resistance Level 2: $31,883
Resistance Level 1: $31,583
Support Level 1: $30,383
Support Level 2: $30,083
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