Silver slipped below $31.90 on Thursday, pressured by easing safe-haven demand after the U.S. and China agreed in Switzerland to cut tariffs to 30% and 10% respectively for 90 days. While the deal briefly lifted sentiment, uncertainty looms over what comes next.
The drop in geopolitical tensions has also dampened expectations for aggressive Fed cuts. However, weak U.S. inflation data from earlier this week supported silver by softening the Dollar and improving its appeal to international buyers.
Silver faces resistance at $32.50, followed by $33.80 and $34.20. Support is found at $31.40, with lower levels at $30.20 and $29.80.
The drop in geopolitical tensions has also dampened expectations for aggressive Fed cuts. However, weak U.S. inflation data from earlier this week supported silver by softening the Dollar and improving its appeal to international buyers.
Silver faces resistance at $32.50, followed by $33.80 and $34.20. Support is found at $31.40, with lower levels at $30.20 and $29.80.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.