SILVER
Silver is trading in an upward direction on the medium term, opening the door for price increases and the formation of new highs. However, if prices break below the support level of $85, we may revisit the $75.50 area in today’s trading.
|
Support |
85 | 75.50 |
| Resistance | 90 |
92 |
Silver prices have seen a strong rise today, continuing the upward trend that started recently, reflecting an increase in demand from investors. Silver has surpassed the $90 per ounce level for the first time, marking a new historic high, which reflects a strong response to geopolitical tensions and economic data supporting interest rate cuts in the near future.
Experts expect the market to continue supporting silver due to several key factors. First, the anticipated interest rate cuts by the U.S. Federal Reserve could enhance the appeal of silver as a safe haven investment. Second, increasing geopolitical tensions are driving up demand for precious metals, particularly silver, which combines the characteristics of a safe haven with industrial uses in areas such as solar energy and electronics. Additionally, strong industrial demand is putting pressure on supplies and boosting prices.
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