Silver Down as Stronger Dollar Weighs on Metal
Silver prices fell, paring gains from earlier in the week as signs of easing global trade tensions lifted the dollar, weighing on dollar-denominated commodities.
The dollar gained as U.S. President Donald Trump claimed that trade talks with China were progressing, with additional signs of progress in negotiations with Japan and South Korea further boosting investor sentiment.
China is also reportedly considering removing 125% tariffs on certain U.S. goods, raising hopes of a further de-escalation in the trade war.
Until this news was released, Silver Price was at $ 32,771
RECOMMENDATION
- Buy if the price moves to $ 32,700
- Sell if the price moves to $ 32,850
Resistance Level 2: $ 33,051
Resistance Level 1: $ 32,911
Support Level 1: $ 32,631
Support Level 2: $ 32,491
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