Silver Steady, Concerns Over Fed Independence Grow
Silver prices stabilized during the Asian session on Tuesday (August 5th), after rising in the previous two sessions, amid growing expectations of an interest rate cut by the Federal Reserve (Fed) in September.
This non-interest-bearing precious metal continues to attract investor interest, particularly as a safe haven asset, as concerns about the Fed's independence mount.
These concerns deepened after the surprise resignation of Fed Governor Adriana Kugler, opening the door for US President Donald Trump to accelerate his influence at the central bank by appointing a replacement who favors low-interest rates.
At the time of writing, silver was up 0.01% at $37.399/Toz.
- Buy if the price moves to around $37,539
- Sell if the price moves to around $37,259
Resistance Level 2: $37,979
Resistance Level 1: $37,679
Support Level 1: $37,119
Support Level 2: $36,819
DISCLAIMER
Note: This article is analytical only and is not a definitive reference. Please consider fundamental and technical aspects of trading before making any investment decisions.
Source: Newsmaker.id-(alg)
