Contrary to Gold, Silver Prices Under Pressure
This morning, the market saw a decline in silver prices, driven by a strengthening US dollar, which attracted investors to yield-based assets. Signals from the Federal Reserve that it is likely to maintain high interest rates have added pressure on precious metals like silver—known as non-yielding assets—thus reducing their appeal.
Furthermore, as a metal with widespread applications in the industrial sector—particularly electronics, photovoltaics, and medical materials—economic uncertainty, including slowing industrial demand, has also put downward pressure on silver prices. As industrial demand weakens, a rapid adjustment in spot prices is expected.
Silver prices at the time of writing were up 0.48% to $40.683/Toz.
- Buy if the price moves to $40,783
- Sell if the price moves to $40,583
Resistance 2: $41,078
Resistance 1: $40,929
Support 1: $40,544
Support 2: $40,277
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
