Conversely, the recovery of $ 31.81 can cause a rebound in the direction of the 61.8% retracement level at $ 32.53, which offers a potential purchase option in the short term.
At 13:34 GMT, XAG/USD $ 31.86, an increase of $ 0.003 or +0.01%.
Trump’s rate policy weigh towards industrial demand
The Zilveren Markt struggles with uncertainty linked to the tariff policy of US President Donald Trump. His recent research into new copper rates has increased inflation problems, which traditionally support precious metals.
However, the dual roll of Silver and both a safe harbor and an industrial metal adds complexity. Although gold could benefit from the demand for safe haven, silver can be under pressure if rates of industrial activities dampen. Traders are careful and balanced the attraction of Silver as a cover against inflation with his vulnerability for a possible delay in industrial demand.
Gold’s performance influences silver sentiment
The recent price promotion of Gold is also the sentiment on the Zilveren Markt. After a sharp drop of 2% on Tuesday, Gold was on Wednesday and maintained a wide bullish trend. A potential outbreak above $ 2,956.31 could lift silver, because traders often regard silver as a cheaper alternative to gold. However, if gold does not get a grip, silver can remain under pressure, especially if the industrial demand is weakened in the midst of rate and economic care.
Economic data can be a game changer
Upcoming US economic data, including the report Perse Consumpions (PCE) on Friday, can give a new direction for silver prices. The inflation pressure and potential shifts in the federal reserve policy can influence Silver’s industrial demand.