Silver Strengthens Amid Positive Sentiment, But Capped by Dollar Strength
Silver prices rose on Thursday (July 10), up more than 1% from the previous close. Despite the strengthening US dollar, demand for silver remained positive due to concerns surrounding Trump's tariffs.
The strengthening of silver prices is believed to be driven by two main factors: demand for safe-haven investments amid global economic uncertainty, and positive sentiment toward industrial metals as US economic data showed slowing inflation. However, silver remains vulnerable to movements in the dollar and bond yields—global macroeconomic indicators that continue to influence commodity prices.
Technically, silver is holding a resistance range of around USD 37.00 per ounce. A breakout of this level opens the potential for further gains towards USD 38.0–39.0 per ounce. However, changes in Federal Reserve policy and movements in bond yields remain the main risks.
Source: Newsmaker.id