- summary:
- Silver PRICE faced the opposite wind because the federal reserve says it is not in a hurry to reduce interest rates. What after xagusd?
Silver price fell on Thursday, when investors digested the Federal Reserve decision to maintain interest rates in the range of 4.25 % -4.50 %. Xagusd was at $ 33.29, a decrease of 1.5 % at the time of the press, as the second consecutive day recorded the decline with the strengthening of the US dollar. However, there are still two major sources to support the silver price, with geopolitical risks in the Middle East and fears of the growing mass tariff war.
During the announcement of the first interest rate of this year, Jerome Powell, Federal Reserve Chairman Jerome Powell, said that the central bank was not in a hurry to reduce interest rates. While admitting a declining pressure on the American economy, Powell also pointed out that the trade tariff war is likely to maintain inflation. However, the Federal Reserve maintained discounts in the expected prices for this year.
The interesting federal reserve bank stimulates descending pressure on the origins of safe haven such as gold and silver, but the market will be keen on American economic data to obtain signals on possible political transformations in the second quarter of the year. During the decisive period, the silver price is supported by the escalating geopolitical risks in the Middle East after Israel’s resumption of military strikes in Gaza.
Silver price prediction
The axis of the silver price is preferred at $ 33.63 and the resistance at this level is that the sellers are in control. However, the metal is likely to decrease to find the first support at $ 33.26. The collapse under this level will indicate the strengthening of the landfill, and the path can open for the second support test at $ 32.00.
On the other hand, the momentum will turn to the upward trend if the price exceeds $ 33.63. You can see the first resistance created at $ 33.84. An extended control component by buyers will clarify this obstacle and nullify the thesis of the negative side. In addition, it can lead to a stronger momentum for a $ 34.10 test.
