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June 2, 2026
NEWS: Silver price is rising 2.8% following lower energy prices and a weaker U.S. dollar after President Trump stated that talks with Iran are back on track and continuing at a rapid pace, with a possible deal expected in the coming week.
Possible Scenarios:
If Silver fails to breach through R1 of 78.309, our Analysis Department expects Silver to undergo a short- term downward correction.
If Silver manages to break above its R1 of 78.309, our Analysis Department expects Silver to extend its gains to its R2 of 79.516.
Support and Resistance Levels:
|
Silver |
S3 |
S2 |
S1 |
Reference Price |
R1 |
R2 |
R3 |
|
73.347 |
74.353 |
75.359 |
76.700 |
78.309 |
79.516 |
80.723 |
Potential Profit or Potential Loss Calculations:
|
10 cents per 1 trading lot* |
USD |
EUR** |
GBP*** |
|
(+/-) $100 |
(+/-) €85.85 |
(+/-) £74.21 |
*1 trading lot is equivalent of 10000 units
**EUR/USD = 1.16487
***GBP/USD = 1.34758
Calculations for exchange rate used as of Tuesday, June 2, 2026, 08:09 GMT+1