Silver extends decline
Silver (XAG/USD) is trading lower after Moody's or Financial Survey Institution downgraded the US credit rating one notch from Aaa to Aa1 citing soaring debt levels and rising interest payments. This follows similar downgrades by Fitch Ratings in 2023 and Standard & Poor's in 2011.
As of this writing, Silver is trading at $32,181
RECOMMENDATION
- Buy if price moves to $32,100
- Sell if price moves to $32.50
Resistance Level 2: $32,335
Resistance Level 1: $32,321
Support Level 1: $32,041
Support Level 2: $31,901
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