Silver Prices Rebound Slightly, After Two-Day Drop
Silver (XAG/USD) prices attracted some buyers to around $36.30, snapping a two-day losing streak during the Asian trading hours on Thursday.
A weaker US dollar (USD) and rising geopolitical tensions in the Middle East provided some support to the white metal.
Traders will be keeping an eye on the US Producer Price Index (PPI) and weekly Initial Jobless Claims, due on Thursday.
A weaker-than-expected US inflation in May has prompted traders to raise their bets on a Federal Reserve (Fed) interest rate cut.
RECOMMENDATION
- Buy if price breaks above $36,672
- Sell if price breaks above $36,072
Resistance 2: $37,272
Resistance 1: $36,972
Support 1: $35,772
Support 2: $35,472
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