Silver Trims Losses to Hold at $32.63 Area
Silver prices pared earlier losses to trade near $32.60 an ounce on Wednesday, as a weaker-than-expected U.S. GDP report for Q1 2025 fueled fears of a fresh recession amid ongoing trade tensions.
The U.S. economy shrank by 0.3% in the first quarter, missing expectations for growth of 0.3%, largely due to a more than 40% surge in imports, as businesses and consumers stocked up on goods ahead of anticipated tariff hikes from the Trump administration.
Until this news was released, the price of silver was at $ 32,638
RECOMMENDATION
- Buy if the price moves to $ 32,938
- Sell if the price moves to $ 32,338
Resistance Level 2: $ 33,538
Resistance Level 1: $ 33,238
Support Level 1: $ 32,038
Support Level 2: $ 31,738
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
