- summary:
- The performance of the price of gold is reflected because the spirits of the risk in global markets are dived with the origins of safe haven.
Silver Price broke a triple loss chain on Wednesday, increased by 0.2 % to trade at $ 33.77 at the time of writing this report. The gray metal reflected the performance of his rich cousin, the gold, which hovers near its high price earlier in the week. The momentum is paid for the risk alienation in the financial markets, where merchants are waiting with breathing full of the start of the mutual tariff in the United States.
US President Donald Trump is scheduled to announce commercial tariffs through goods that start on April 2, which represents the way to increase the tendency towards the origins of safe haven such as silver and gold. The United States’ trade partners have expressed their intention to create a retaliatory tariff, which could depend on a wider global economic crisis. The tariff plan, called “Tahrir’s Day”, did not leave America’s closest allies.
However, the bullish trend of silver is likely to be limited to paying Gold from ADP. Reading came out in 155K, overcoming the expected number of 118 kg. The scale is seen as a good indicator of non -heavy -far -fly salary numbers (NFP) for the release on Friday.
In addition, the China Information Manager Index rose to 50.5 in March from 50.2 February, to the highest level in the last 12 marks. This preaches well for silver prices, as the metal is used in multiple industrial processes.
Silver price prediction
The momentum on the silver price for buyers is preferred to remain in control over $ 33.66. The first barrier is likely to be at $ 33.98. However, the strongest momentum will break this level and may test the second resistance at $ 33.20.
On the other hand, the momentum can turn to the negative side if the price decreases to less than $ 33.66. This Xagusd may see a decrease to find the first support at $ 33.43. The bullish direction would be invalid if the price is less than this level. Moreover, the controlled control by sellers can see the price less for a $ 33.24 test.
