Silver Resists Pressure Amid Global Uncertainty
Silver prices held steady in early Asian trading on Friday, as safe-haven sentiment strengthened, as unsatisfactory global inflation data and uncertainty surrounding the US-trading partner trade war prompted investors to turn to precious metals. Furthermore, industrial demand—particularly from the electronics and renewable energy sectors—remained solid, supporting spot prices.
However, the relatively small movement indicates the market is still awaiting further signals, both from US economic data and geopolitical developments.
Technically, if the dollar weakens and US economic data remains fragile, there is room for silver to break through the US$38.5–39.0 per ounce range. Conversely, a strengthening dollar or positive economic reports could hinder further gains.
Source: Newsmaker.id
