Silver Strengthens, Trades Above $36
Silver (XAG/USD) prices remain firm for the second straight session, holding near its highest level since February 2012. The grey metal is trading around $36.16 per troy ounce as it enters the European session on Friday.
Precious metals prices, including silver, surged as demand for safe-haven assets increased amid weak economic data from the United States (US), which fueled expectations of a Federal Reserve (Fed) interest rate cut. Weekly Initial Jobless Claims rose to 247,000 on Thursday, above expectations of 235,000.
RECOMMENDATION
- Buy if price moves to $36,274
- Sell if price moves to $36,074
Resistance 2: $36,520
Resistance 1: $36,314
Support 1: $36,034
Support 2: $35,835
Note: This article is for analytical purposes only and is not a definitive reference. Please pay attention to fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id