Silver Awaits Trigger: Past $37,000 or Another Correction?
Silver prices fell, currently hovering around $36,771 an ounce, supported by global uncertainty and speculation of slowing economic growth. Demand for the precious metal has increased as investors seek alternative hedge assets amid concerns about US trade tariffs, geopolitical tensions and potential interest rate cuts by global central banks.
However, the market remains cautious as silver tends to be more volatile than gold and is highly sensitive to the direction of the US dollar. If the dollar strengthens on the back of hawkish rhetoric from the Federal Reserve, silver could come under short-term pressure.
Recommendations:
Buy if price breaks above $36,911
Sell if price breaks below $36,331
Resistance 2: $37,211
Resistance 1: $36,911
Support 1: $36,331
Support 2: $36,631
Note: This article is intended for analysis and not as a definitive reference. Always pay attention to fundamental and technical developments before making investment decisions.
Source: Newsmaker.id
