Silver Holds Place! Strong Signal or Just Waiting for a Hit?
The spot price of silver (XAG/USD) slipped around 0.05% to US$36.72 per troy ounce, continuing the correction from its recent high. Easing tensions over the US tariff deadline have caused investors to slightly move away from safe-haven assets such as silver, resulting in profit taking.
The decline occurred even though silver previously recorded its highest level in the last 13 years at around US$36.90, supported by safe-haven demand and a long-term supply deficit. Analysts said the potential for a rebound would emerge again if the price approaches the support zone, considering that silver's fundamentals are still strong.
Recommendation:
Buy if price breaks above $36,859
Sell if price breaks below $36,659
Resistance 2: $37,098
Resistance 1: $36,890
Support 1: $36,594
Support 2: $36,332
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