Silver Movement
Silver prices rose 0.73% to USD 32.45 per ounce during the 24 hours ending 23:00GMT, as demand for industrial metal rose, after surveys by the Federal Reserve Bank in Philadelphia and New York showed manufacturing activity expanded, providing more proof that the US economy is gaining momentum.
In the Asian session, at GMT0400, Silver is trading at 32.63, 0.56% higher from yesterday’s close.
Silver is expected to find support at 32.10, and a fall through could take it to the next support level of 31.57. Silver is expected to find its first resistance at 33.02, and a rise through could take it to the next resistance level of 33.40.
The white metal is trading just above its 20 Hr and 50 Hr moving averages.
