- The price of silver is in the face of pressure above USD 33, because FED decision makers see interest rates remained in the current range 4.25%-4.50%.
- FED officials are fighting to assess the impact of Trump’s economic program on the economy.
- A wider look at the silver price remains powerful among Trump’s tariff program.
The silver price (XAG/USD) is in the face of sales pressure above the key level of 33.00 USD at the North American commercial time on Friday. White metal decreases with the escalate in the US dollar (USD), and the Federal Reserve Officials (FED) still manage the restrictive attitude of monetary policy. The American dollar index (DXY), which follows the Greenback value compared to the six main currencies, is promoted to almost 106.75.
On Thursday, Fed Governor Adriana Kugler said that the central bank should keep the loan rates “in its place”, noting that the net effect of novel economic policies by the President of the United States (USA) is “very uncertain” and will be very uncertain and will be dependent on “Details”.
The FED scenario maintaining the attitude of interest rates poorly bodes for precious metals, such as the price of silver.
Meanwhile, the fears of President Trump’s tariff program would keep the silver price on the front. On Thursday, Trump announced that he could apply wood and forestry tariffs, cars, pharmaceuticals and semiconductor over the next month or earlier. Market participants expect that Trump’s tariff program will lead to a global economic slowdown.
Investors also focus on development in Russia’s talks about the end of the war in Ukraine. This week, Donald Trump agreed to conduct more talks with the Russian leader Vladimir Putin to negotiate to have a truce with Ukraine. The positive result of peace conversations would weaken the unthreatening charm of the silver price.
Silver technical analysis
The silver price is aimed at re -re -reheat again with a maximum of USD 33.40, which she published on February 14. White metal prospects are stubborn because the 50-day interpretation average mobility (EMA) is inclined, which trads around USD 31.33.
The 14-day relative strength (RSI) indicator oscillates in the range of 60.00-80.00, which suggests that the shoot is strongly stubborn.
Looking down, the line line up from the lowest level of $ 26.45 of August 8 will act as key support for the silver price of around 30.00 USD. While the highest level of October 22 34.87 USD will be a key barrier.
