Silver Down as Safe Haven Demand Eases
Silver (XAG/USD) prices continued to decline to trade around $32.20 per troy ounce during European trading hours on Monday (5/12).
The precious metal received support from news that Canadian miner Pan American Silver will acquire MAG Silver Corp in a deal that values the company at around $2.1 billion, according to Reuters.
RECOMMENDATION
- Buy if price moves to $32,563
- Sell if price moves to $31,963
Resistance Level 2: $33,163
Resistance Level 1: $32,863
Support Level 1: $31,663
Support Level 2: $31,363
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