Silver surged over 5% on Monday to around $34.60 per ounce, near a two-month high, before easing to $34 on Tuesday due to profit-taking. The rally was fueled by rising trade tensions and safe-haven demand after President Trump announced a 50% tariff on steel and aluminum imports. China denied breaching a recent trade deal, casting doubt on a potential Trump-Xi call. Legal uncertainty around Trump’s trade measures further supported demand for precious metals.
The first critical support for gold is seen at 33.65 and the first resistance is located at 34.90.
The first critical support for gold is seen at 33.65 and the first resistance is located at 34.90.
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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.