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Silver prices stabilize around $32.50 as investors await updates on US-China trade negotiations.
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The White House remains optimistic about a US-China trade deal.
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Tensions between Trump and Fed Chairman Powell continue to pressure the US Dollar.
Silver Price (XAG/USD) holds steady around $32.50 during Tuesday’s European trading hours, consolidating after three days of sideways movement as investors await fresh developments in the US-China trade negotiations.
Earlier this month, US President Donald Trump announced a 90-day pause on reciprocal tariffs but maintained substantial duties on Chinese goods, which has kept tensions high. While the White House remains optimistic about a US-China trade deal, with US Commerce Secretary Howard Lutnick expressing confidence, investors remain cautious, as the ongoing conflict between the US and China is perceived more as a “dignity” issue than one centered on tariff levels. Such prolonged tensions are often favorable for safe-haven assets like Silver, which historically performs well during times of global economic uncertainty.
The feud between Trump and Federal Reserve Chair Jerome Powell over interest rate policy has further weakened the US Dollar, making Silver a more attractive investment for those looking for value in the current market environment.
Silver Technical Analysis:
Silver continues to trade in a range between $32.08 and $33.12 since April 7, following a strong rally earlier this month. The 20-day Exponential Moving Average (EMA) at $32.00 provides solid support for the price.
The 14-day Relative Strength Index (RSI) moves between 40.00 and 60.00, suggesting reduced volatility. On the upside, the March 28 high of $34.60 remains a key resistance level, while the April 11 low at $30.90 is the major support zone to watch for a potential breakdown.
Silver daily chart:
