Silver continues to benefit from the power in the gold market, which holds more than $ 3,000 per ounce. Persistent geopolitical tensions and a growing conviction that the Federal Reserve can relieve policy later this year, support both metals. Under the resistance, gold consolidates at $ 3028.53, with every outbreak that probably overflows into silver, which means that bullish flows are strengthened in both markets.
The collapse of confidence trust arises the question
American consumer confidence fell sharply in March, with the expectations of the conference government in 12 years to the lowest level to the lowest level at 65.2. The deterioration was broad and became sentiment about age and income groups. The report contributes to the concern that the US economy is on its way to a recession territory, which enhances the demand for non-building assets such as silver.
The expectations of the rate also received a grip after FED officials, including President of Atlanta, Raphael Bostic, recognized the potential before the end of the year. Lower rates fall the opportunities costs, which strengthens the case for precious metals.
Silver Outlook: Bias tilted to the advantage
With the deterioration of the risk -sentiment and technically upside down, silver remains placed for further profit. A near $ 34.24 would confirm Bullish Momentum, where traders see $ 35.40 as a target in the short term. Dips to $ 33.45 or $ 32.66 are probably seen as buying options, especially if macro opposes the wind and gold is retained above $ 3,000.