Silver Movement
Silver prices declined 1.64% to the USD31.47 per ounce during the 24 hours ending 23:00GMT. Yesterday, a leading broking house lowered its forecast for silver prices in 2013, stating that the interest in silver has been limited in the past few months.
In the Asian session, at GMT0400, Silver is trading at 31.40, 0.21% lower from yesterday’s close.
Silver is expected to find support at 30.98, and a fall through could take it to the next support level of 30.56. Silver is expected to find its first resistance at 31.97, and a rise through could take it to the next resistance level of 32.54.
The white metal is trading below its 20 Hr and 50 Hr moving averages.
