Silver Prices Correct Slightly After Hitting a 13-Year Peak
Spot silver prices fell slightly by around 0.2%. This decline was part of a measured correction following a sharp rally in early June, when prices briefly reached a 13-year high.
On the fundamental side, industrial demand—particularly for clean technology sectors such as solar panels, electric vehicles, and 5G—remained the main driver of the increase.
Although global supply remains tight, the production surplus is not keeping pace with surging demand. Similarly, geopolitical pressures are increasing interest in precious metals as a safe haven.
Recommendation:
Buy if the price breaks above $36,911
Sell if the price breaks below $36,311
Resistance 2: $37,511
Resistance 1: $37,211
Support 1: $36,011
Support 2: $35,711
Note: This article is intended for analytical purposes and is not intended as a definitive reference. Always pay attention to fundamental and technical developments before making investment decisions.
Source: Newsmaker.id
