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Indonesia News Portal for Traders | Financial & Business Updates

7 August 2025 13:50  |

Safe Haven Shines: Silver Breaks Through $38

Silver prices rose to $38.05 on Thursday (August 7), marking a fifth consecutive day of gains. This increase was supported by a weakening US dollar and market concerns over President Trump's planned additional tariffs on China and Japan. Risk-off sentiment drove investors into safe-haven assets like silver.

Expectations for a Fed interest rate cut were also a key driver. Weak US employment data strengthened the chances of policy easing, supporting precious metal prices. The market now awaits jobless claims data for short-term direction.

At the time of writing, silver was up 0.68% at $38.063/Toz.

 

- Buy if the price moves to around $38,203

- Sell if the price moves to around $37,923

 

Resistance Level 2: $38,503

Resistance Level 1: $38,203

 

Support Level 1: $37,923

Support Level 2: $37,623

DISCLAIMER

Note: This article is for analysis only and is not a definitive reference. Please consider fundamental and technical aspects of trading before making any investment decisions.

 

Source: Newsmaker.id-(ayu)

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