Silver Stable at $43.99: Fundamentals Remain Strong
Silver held steady around $43.99/oz during Thursday's European session. Support came from a slightly weaker US dollar and expectations that the Fed would continue to trend toward gradual easing if inflation (PCE) continues to cool and the job market weakens. This sentiment has lowered the opportunity cost of holding precious metals, maintaining interest in silver ahead of US data releases (jobless claims and PCE) that could shift policy expectations.
In terms of industrial fundamentals, silver remains supported by strong demand from solar, electric vehicles, and electronics, while supply is relatively tight as mining production growth has not kept pace with the surge in technology demand. The combination of a moderately strong USD, the prospect of lower interest rates, and resilient industrial demand has kept silver prices high despite market concerns about a potential global economic slowdown. (ads)
The silver price at the time of this analysis was released was at $44,011.
- Buy if the price moves within the $44,151 range.
- Sell if the price moves within the $44,011 range.
Resistance 2: $44,751
Resistance 1: $44,451
Support 1: $43,711
Support 2: $43,411
Disclaimer:
This article is analytical and not a definitive reference. Consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id
