For the 24 hours to 23:00 GMT, Silver declined 2.27% against the USD and closed at USD16.34 per ounce, tracking losses in gold prices.
In the Asian session, at GMT0400, the pair is trading at 16.26, with silver trading 0.52% lower against the USD from yesterday’s close.
The pair is expected to find support at 16.07, and a fall through could take it to the next support level of 15.88. The pair is expected to find its first resistance at 16.59, and a rise through could take it to the next resistance level of 16.92.
The white metal is trading below its 20 Hr and 50 Hr moving averages.