Silver Steady, Markets Wary of US Signals and Trade Tensions
Silver prices stabilized in early Asian trading on Friday (July 18th) as interest in safe-haven assets rebounded amid global uncertainty.
Investor interest in the precious metal strengthened after global inflation data was deemed unsatisfactory, along with renewed concerns about a trade war between the United States and its trading partners. Furthermore, consistent industrial demand—particularly from the electronics and green energy sectors—contributed to silver prices.
Despite the stability, silver price movements remain limited as the market awaits the latest US economic data and further geopolitical developments. If the dollar weakens and US macro data remains weak, silver prices could potentially break through the technical resistance level in the range of US$38.5–39.0 per ounce. Conversely, a strengthening dollar or positive data could limit upside.
Recommendation:
Buy if the price breaks above $38,442
Sell if the price breaks below $37,842
Resistance 2: $39,042
Resistance 1: $38,742
Support 1: $37,542
Support 2: $37,242
Note: This article is intended for analysis and should not be considered a definitive reference. Always consider fundamental and technical developments before making investment decisions.
Source: Newsmaker.id
