Silver's Bullish Outlook Remains Open Amid US Dollar Pressure
Silver prices rose slightly on Tuesday morning (August 12th) to around US$37.80 per ounce, up around 0.4% compared to the previous close. This increase occurred after a correction of more than 1.9% yesterday due to the strengthening US dollar and market uncertainty regarding precious metals tariff policies.
Despite short-term pressures, the long-term outlook for silver is considered positive. HSBC even raised its projection for the average silver price in 2025 to US$35.14 per ounce, driven by rising gold prices, demand for safe-haven assets, and an estimated global supply deficit of 206 million ounces.
At the time of writing, silver was up 0.5% to $37,781/Toz.
- Buy if the price moves to $37,881
- Sell if the price moves to $37,681
Resistance Level 2: $38,161
Resistance Level 1: $37,956
Support Level 1: $37,606
Support Level 2: $37,401
DISCLAIMER
Note: This article is for analysis purposes only and is not a definitive reference. Please consider the fundamental and technical aspects of trading before making any investment decisions.
Source: Newsmaker.id