XAGUSDSILVER Tariff Uncertainty and Fed Expectations Keep Silver Near Highs Silver dipped below $30.30 per ounce on Monday but stayed near six-week highs as President Trump’s tariff threats increased safe-haven demand. Trump hinted at a 10% tariff on Chinese imports starting February 1, following threats of 25% tariffs on Mexico and Canada. Hopes persist for a more cautious tariff approach, with no action yet taken.
Silver is also supported by expectations of Federal Reserve rate cuts, which could weaken the dollar and increase commodity demand. Ongoing supply concerns in London vaults and strong industrial demand, particularly from manufacturing, further support the bullish outlook.
Technically, the first resistance level will be 31.00 level. In case of this level’s breach, the next levels to watch would be 31.80 and 32.50 consequently. On the downside 29.85 will be the first support level. 28.80 and 28.50 are the next levels to monitor if the first support level is breached.
GOLDXAUUSDGOLD1!SILVER sell gold spot at cmp 2770 with 2780 sustainable 15 min sl for 2730 and 2720 target. Sell mcx gold as per given Comex spot level, mcx cmp is 80130 for same target and sl intraday. Jai Hind