Silver surged toward $33.90 an ounce, its highest since late October with ongoing trade tensions and rising Fed rate cut expectations after weak U.S. inflation data.
Trump threatened 200% tariffs on European wines in response to the EU’s 50% tariff on U.S. whiskey, further heightening market uncertainty. U.S. producer prices remained flat in February in the meantime, consumer inflation rose just 0.2%, and jobless claims declined, signaling a resilient labor market.
If silver breaks above $34.00, the next resistance levels are $34.85 and $35.00. On the downside, support is at $33.80, with further levels at $33.15 and $32.75 if selling pressure increases.
Trump threatened 200% tariffs on European wines in response to the EU’s 50% tariff on U.S. whiskey, further heightening market uncertainty. U.S. producer prices remained flat in February in the meantime, consumer inflation rose just 0.2%, and jobless claims declined, signaling a resilient labor market.
If silver breaks above $34.00, the next resistance levels are $34.85 and $35.00. On the downside, support is at $33.80, with further levels at $33.15 and $32.75 if selling pressure increases.
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.
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.