Silver Drops as Safe-Haven Demand Weakens
Silver prices fell below $33 an ounce on Wednesday (5/14), promising a rise from the previous session as easing global trade tensions reduced demand for safe-haven assets. The decline follows productive U.S.-China trade talks over the weekend in Switzerland, where both sides agreed to temporarily lower tariffs to 30% and 10%, respectively, for a 90-day period—a significant step toward de-escalation.
RECOMMENDATION
- Buy if price moves to $33,073
- Sell if price moves to $32,473
Resistance Level 2: $33,673
Resistance Level 1: $33,373
Support Level 1: $32,173
Support Level 2: $31,873
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