Silver Extends Gains as Dollar Slides
Silver rose above $31.20 an ounce on Friday (11/4), marking its third straight session of gains, as broad-based US dollar weakness and renewed economic concerns fueled demand for alternative assets.
The metal also benefited from rising inflows into safe-haven assets, with the dollar losing some of its appeal as a traditional safe haven.
Despite the 90-day tariff suspension, investors remain uneasy about President Trump's trade policies and their potential to tip the US economy into recession.
RECOMMENDATIONS
- Buy if price moves to $31,800
- Sell if price moves to $31,200
Resistance Level 2: $32,400
Resistance Level 1: $32,100
Support Level 1: $30,900
Support Level 2: $30,600
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