For the 24 hours to 23:00 GMT, Silver declined 1.37% against the USD and closed at USD16.15 per ounce, tracking losses in gold prices.
In the Asian session, at GMT0300, the pair is trading at 16.17, with silver trading 0.12% higher against the USD from yesterday’s close.
The pair is expected to find support at 16.01, and a fall through could take it to the next support level of 15.86. The pair is expected to find its first resistance at 16.34, and a rise through could take it to the next resistance level of 16.51.
The white metal is trading below its 20 Hr and 50 Hr moving averages.