Silver Falls as US Economic Sentiment Depresses Safe-Haven Assets
Silver prices are currently declining from last week's high of $39.53. This decline reflects reduced demand for safe-haven assets amid rising risk sentiment in global markets. S&P 500 futures are showing significant gains, reflecting investor optimism about the economic outlook.
The trade deal between the United States and the European Union, which includes a 15% tariff on most EU imports into the US, has eased trade tensions and boosted investor risk appetite.
Gold prices at the time of writing were at $38,125/Toz.
- Buy if the price moves to around $38,265
- Sell if the price moves around $37,985
Resistance 2: $38,865
Resistance 1: $38,565
Support 1: $37,685
Support 2: $37,385
DISCLAIMER
Note: This article is analytical only and is not a definitive reference. Please consider fundamental and technical aspects of trading before making any investment decisions.
Source: Newsmaker.id(alg)