Silver Movement
Silver prices declined 2.76% to USD 31.47 per ounce, on Friday, during the 24 hours ending 23:00GMT, as market participants experienced a strong pullback in the demand for industrial metals amid weak global cues.
In the Asian session, at GMT0300, Silver is trading at 31.42, 0.14% lower from Friday’s close.
Silver is expected to find support at 31.01, and a fall through could take it to the next support level of 30.60. Silver is expected to find its first resistance at 32.14, and a rise through could take it to the next resistance level of 32.85.
The white metal is trading below its 20 Hr and 50 Hr moving averages.
