Silver Resumes Rising Gains
Silver prices extended their gains for a third session on Monday (5/12). The precious metal was supported by news that Canadian miner Pan American Silver will acquire MAG Silver Corp in a deal that values the company at about $2.1 billion, according to Reuters.
Meanwhile, geopolitical tensions continued to provide support for silver. India warned Pakistan of potential retaliation for recent ceasefire violations, a claim denied by the Pakistani military.
RECOMMENDATION
- Buy if price moves to $33,110
- Sell if price moves to $32,510
Resistance Level 2: $33,710
Resistance Level 1: $33,410
Support Level 1: $32,210
Support Level 2: $31,910
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