Silver Rises Over 1% on Safe-Haven Demand
Silver prices rose more than 1% on Thursday (08/05), recovering losses from the previous session as investors sought refuge in safe-haven assets amid ongoing economic and trade uncertainty.
The recovery followed the Federal Reserve's decision on Wednesday to keep interest rates steady, as expected. However, Chairman Jerome Powell was cautious, highlighting rising risks to inflation and employment, and downplaying the possibility of preemptive rate cuts to mitigate the potential economic impact of new tariffs.
Until this news was released, the price of Silver was at the level of $ 32,846
RECOMMENDATION
- Buy if the price moves to $ 33,146
- Sell if the price moves to $ 32,546
Resistance Level 2: $ 33,746
Resistance Level 1: $ 33,446
Support Level 1: $ 32,246
Support Level 2: $ 31,946
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