Silver prices (XAG/USD) edged up 1.24% to around $30.90 early Tuesday, supported by potential Chinese stimulus measures and geopolitical uncertainties. Despite crossing above the 100-day EMA—a bullish technical signal—further consolidation is possible as the RSI indicator signals neutral momentum.
Key resistance lies at $31.68, with further gains potentially targeting $32.90-$33.00 and $34.55. On the downside, sustained trading below $30.50 could lead to declines toward $29.65 or as low as $27.70. JPMorgan analysts anticipate near-term weakness for base metals in early 2025 due to potential U.S. tariffs on Chinese goods but foresee recovery later driven by Chinese stimulus and improved valuations.


