Silver Prices Steady Amid US Economic Turmoil
Silver prices stabilized on Friday (4/7) in the range of $36.82–36.84 per troy ounce amid relatively quiet trading as US markets were closed for the Independence Day holiday. After a two-day rally that added nearly 2%, silver is now tending to sideways, moving in a relatively narrow range.
Silver is still supported by demand as a hedge against fiscal concerns and US economic conditions, although the dollar strengthened after the jobs data. From a technical perspective, prices are stable below the resistance level of $37.30 and have formed a consolidation pattern in the range of $35.40–37.35 for the past two weeks, an important area that traders are always watching.
The current stability of silver prices reflects a mix of pressures: rising industrial demand (such as the electronics and solar panels sectors) and global concerns regarding tariffs and monetary policy.
In addition, analysts see silver approaching a 13-year high, indicating the potential for a further breakout. The July season is often considered a positive month for silver, in line with strong historical trends. If safe-haven sentiment remains strong and the dollar weakens, silver could break the upper limit of the consolidation and test levels above $37–38/Oz.
Source: Newsmaker.id (Arl)
