Dollar Pressure and Strong Expectations Boost Silver Prices
Silver prices (XAG/USD) strengthened, approaching their highest level since 2011. From a macro perspective, the rise was driven by strong expectations that the Fed will cut interest rates this month after PCE inflation data matched expectations, which held down real yields and pressured the US dollar—a combination that has historically been positive for precious metals. Safe-haven sentiment also remained strong amid policy and geopolitical uncertainty, boosting interest in safe-haven assets like silver.
Silver prices rose 2.21% at the time of writing and were at $40,569/Toz.
- Buy if the price moves to $40,709
- Sell if the price moves to $40,429
Resistance 2: $41,309
Resistance 1: $41,009
Support 1: $40,129
Support 2: $39,829
DISCLAIMER
Note: This article is for analytical purposes only and is not a definitive reference. Please consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id-(alg)