SILVER
Silver is trading above the support area of $45.50, and prices are likely to move sideways between the aforementioned support area and the resistance area of $49.25 during today’s trading session.
|
Support |
45.50 | 43.75 | – |
| Resistance | 49.25 | 52.50 |
– |
Silver prices saw a strong rebound during today’s session, returning to an upward trajectory after a correction phase that lasted several sessions. The spot price of silver rose to trade near $50.10 per ounce, supported by a slight decline in the U.S. dollar index and growing investor appetite for precious metals ahead of the Federal Reserve’s interest rate decision.
From a fundamental perspective, the decline in real yields and continued expectations of an additional rate cut have strengthened demand for non–yield-bearing assets such as silver, particularly amid rising industrial demand from the solar energy and electronics sectors.
In summary, the overall outlook for silver remains bullish as long as prices hold above key support levels, with the potential for the upward move to extend further if the Fed’s remarks today come in less hawkish than expected.
You can now benefit from LDN company’s services through the LDN Global Markets trading platform.
