Silver prices surged to an all-time high today before stabilizing around $50.10 per ounce. This sharp surge was triggered by minor pressure in the London market due to dwindling physical supplies, while demand remains high from investors and industry. Positive sentiment also came from rising gold prices and concerns about US-China trade tensions, which prompted market participants to seek safe assets.
Although silver's rally remains strong, analysts warn of the potential for a short-term correction after the rapid rise in recent days. As long as prices can hold above the psychological level of $50 per ounce, the silver trend is considered bullish, with investor interest remaining high amidst global economic turmoil. (asd)
The price of silver at the time of this analysis was $50.108.
Disclaimer:
This article is analytical in nature and is not a definitive reference. Please consider fundamental and technical developments in trading before making any investment decisions.
Source: Newsmaker.id
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