Silver Gains Slightly, Market Awaits Trump-Zelenskiy Meeting
Silver prices (XAG/USD) strengthened slightly during the European trading session on Monday (August 18th). The white metal attracted some buying demand amid cautious market sentiment, as investors awaited the meeting between United States (US) President Donald Trump and Ukrainian President Volodymyr Zelenskiy at the White House later that day.
Meanwhile, strong expectations that the Federal Reserve (Fed) will cut interest rates at its September meeting remain a supportive factor for silver prices. The prospect of lower interest rates is considered positive for non-yielding assets like silver, as it lowers the opportunity cost for investors to hold the precious metal as a safe-haven asset.
Silver prices at the time of writing were at $38,085/Toz.
- Buy if the price moves to around $38,225
- Sell if the price moves around $37,945
Resistance 2: $38,665
Resistance 1: $38,365
Support 1: $37,805
Support 2: $37,505
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