Silver Moves Quietly, Ready to Accelerate Again?
Silver prices are currently hovering around $46 per ounce, up slightly after a correction earlier this week. This increase occurred amid cautious market sentiment, which is still monitoring the risk of a US government shutdown and the direction of the Fed's interest rates. Investors are starting to look again to silver as an alternative safe haven asset, although its movements have not been as aggressive as gold.
While physical demand remains stable, silver's recent movements have been more influenced by global sentiment and inflows into precious metal ETFs. The market is also awaiting US employment data later this week, which could change interest rate expectations, automatically driving silver prices. For now, market participants are tending to take a wait-and-see approach. (Ads)
The price of silver at the time of this analysis's release was $46,657
- Buy if the price moves within the $46,797 range
- Sell if the price moves within the $46,517 range
Resistance 2: $47,397
Resistance 1: $47,097
Support 1: $46,217
Support 2: $45,917
Disclaimer:
This article is analytical in nature and is not a definitive reference. Please consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id
