Silver Prices Correct!
Silver prices fell to $40.80 per ounce on Thursday, opening the European session (September 4th) due to profit-taking after a sharp rally. The market remains optimistic as the Fed is almost 98% certain to cut interest rates this month.
From the industrial perspective, demand for silver remains strong thanks to a surge in Chinese solar panel exports, making the metal attractive as both a safe haven and an industrial commodity.
Silver prices at the time of writing were up -0.76% to $40.892/Toz.
- Buy if the price moves to $41.032
- Sell if the price moves to $40.752
Resistance 2: $41.632
Resistance 1: $41.332
Support 1: $40.352
Support 2: $40.052
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.(ayu)
Source: Newsmaker.id