Silver Prices Drop on Optimism Over US-China Trade Talks
Silver fell after two consecutive days of gains. The decline came as safe-haven demand weakened following news that US and Chinese officials will meet this week to discuss trade, raising hopes of a de-escalation.
In a key development, US Treasury Secretary Scott Bessent and Trade Representative Jamieson Greer are scheduled to meet Chinese Vice Premier He Lifeng in Geneva over the weekend. This marks the first high-level dialogue since the US imposed tariffs that sparked a global trade conflict. China’s Commerce Ministry confirmed Beijing’s willingness to engage, taking into account the US proposal, global sentiment and domestic interests.
Until this news was released, the price of Silver was at the level of $ 32,452
RECOMMENDATION
- Buy if the price moves to $ 32,350
- Sell if the price moves to $ 32,550
Resistance Level 2: $ 32,732
Resistance Level 1: $ 32,592
Support Level 1: $ 32,312
Support Level 2: $ 32,172
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