Silver Movement
Silver prices rose 1.08% to USD 39.13 per ounce during the 24 hours ending 23:00GMT, as investors sought out more stable assets while being more cautious over Europe’s debt crisis and unrest in the Middle East and North Africa.
In the Asian session at 3:00GMT, silver is trading at USD 39.40 per ounce, 0.69% higher, from 23:00GMT.
The first level of short term resistance on the upside is at 39.87, followed by 40.34. The pair is expected to find support at 38.48, with the subsequent support level at 37.56.
Silver is trading just above its 20 Hr and well above its 50 Hr moving averages.
