Silver Shines Amid Global Turmoil, But Dollar Holds Back
Silver prices have shown modest gains in recent days, as geopolitical tensions in the Middle East escalate and demand for safe-haven assets surges. The conflict between the United States and Iran, especially after the attack on Iran’s main nuclear facility, has raised concerns in global markets, prompting investors to turn to precious metals such as gold and silver.
However, silver’s movement is still overshadowed by the strengthening US dollar. Although risk-off sentiment supports precious metals, the strength of the greenback makes silver relatively more expensive for overseas buyers, which could limit further price increases.
On the industrial demand side, silver continues to receive support from the technology and renewable energy sectors, including solar panel and semiconductor production. However, global economic uncertainty and expectations of tighter monetary policy from the Fed remain pressure factors.
RECOMMENDATION
- Buy if price breaks above $36,301
- Sell if price breaks above $36,021
Resistance 2: $36,541
Resistance 1: $36,336
Support 1: $35,986
Support 2: $35,781
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
