Silver Extends Decline for Second Session
Silver (XAG/USD) prices extended their decline for the second straight session, trading below $31.90 per troy ounce during Asian hours on Thursday (5/15).
The decline follows productive US-China trade talks over the weekend in Switzerland, where both sides agreed to temporarily lower tariffs to 30% and 10%, respectively, for a period of 90 days—a significant step towards de-escalation.
While this has eased market fears of a prolonged trade war, uncertainty remains over what will happen after the agreement is concluded, with further negotiations expected in the coming weeks. Reducing geopolitical risks have led markets to reduce expectations for aggressive Federal Reserve interest rate cuts, adding downward pressure on silver.
Silver is trading at $31,858/ Toz at press time.
RECOMMENDATION
- Buy if price moves to $ 32,158
- Sell if price moves to $ 31,558
Resistance Level 2: $ 32,438
Resistance Level 1: $ 32,298
Support Level 1: $ 31,418
Support Level 2: $ 31,278
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. (yds)
Source: Newsmaker.id
