- La Plata (XAG/USD) remains firm above $ 36.50 after bouncing a three -day run streak.
- The president of the USA Donald Trump points to eight more countries with tariffs ranging between 20% and 50%, which will enter into force on August 1.
- The price action remains confined within a range of $ 35.50 –37.00 $ within a broader ascending channel.
La Plata (XAG/USD) stands firm on Thursday after a strong start of the day, recovering from a three -day running streak as the market feeling becomes cautious once again. Investors are returning to refuge assets after renewed global commercial tensions and the lowest yields of the US Treasury bonds, both factors that have supported the demand for precious metal.
At the time of writing, the XAG/USD is quoted around $ 36.63 during the first hours of American negotiation, decreasing slightly from the maximum day of 36.85 $.
The metal found support near the region of 36.30 $ during the Asian session, firmly bouncing as the US president Donald Trump intensified his tariff campaign with new threats aimed at eight additional countries, including Algeria, Moldova and Philippines. The proposed tariffs, which range between 20% and 50%, will take effect on August 1, which further increases global commercial uncertainty.
The feeling was also influenced by the publication of the minutes of the June meeting of the Federal Reserve (FED), published on Wednesday, which showed that the majority of those responsible for monetary policy see rates cuts as probable later this year, while concerns about inflationary risks derived from tariffs were considered temporary or moderate.
From a technical point of view, La Plata continues to quote within an upward ascending channel that has been in force since the beginning of April, but the price action has remained largely within the range of 35.50 $ to 37.00 $ during the last four weeks. The bulls have repeatedly failed to break above the psychological brand of 37.00. The level of 37.30 $, which marks a maximum of 13 years, remains a key barrier. The metal is maintained above the exponential mobile (EMA) average of 21 days at 36.22 $, maintaining a short -term bias inclined up.
The Relative Force Index (RSI) is around 58, showing a constant bullish impulse without reaching the territory of overcompra. Meanwhile, the exchange rate indicator (ROC) is in positive territory about 1.76, indicating moderate rising pressure. However, the impulse has softened slightly compared to the strong rebounds seen in May and June, reflecting the broader indecision of the market.
A sustained rupture above the psychological level of $ 37.00 could confirm the upward continuation within the broader and potentially exposed ascending channel of 38.00 –38.50 $ as the next objective. Down, the initial support is found at 36.22 $ (EMA of 21 days), followed by the lower end of the recent consolidation zone at $ 35.50. A daily closure below this area would invalidate the Alcista channel and change the short -term bias in favor of the bassists, with the following support seen around 34.50 $.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
