Silver Holds Strong on Rate Cut Expectations
Silver prices held above $38.50 per ounce on Thursday (August 14th), hovering near a three-week high as expectations of a deeper Federal Reserve interest rate cut this year buoyed the market.
Weaker US inflation data suggested that President Donald Trump's tariffs were not adding to price pressures, while signs of a weakening labor market reinforced the dovish outlook.
The market is almost fully pricing in a September rate cut, with some anticipating a larger 50 basis point cut.
Additionally, Treasury Secretary Scott Bessent called for multiple rate cuts and said the Fed could begin easing its policy rate with a half-point reduction.
Silver prices at the time of writing were at $38.289/oz.
- Buy if the price moves to around $38,589
- Sell if the price moves around $37,989
Resistance 2: $39,189
Resistance 1: $38,889
Support 1: $37,689
Support 2: $37,389
DISCLAIMER
Note: This article is analytical only and is not a definitive reference. Consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id
