Silver Movement
Silver prices declined 0.10% to the USD 20.23 per ounce during the 24 hours ending 23:00GMT, tracking losses in gold prices.
Silver prices retreated, after upbeat economic data from the US and the optimism surrounding the outlook for the US economy as indicated by the Fed’s Beige Book. Additionally, the World Bank Bank upgraded its expectations for global growth.
In the Asian session, at GMT0400, Silver is trading at 20.16, 0.33% lower from yesterday’s close.
Silver is expected to find support at 19.99, and a fall through could take it to the next support level of 19.81. Silver is expected to find its first resistance at 20.30, and a rise through could take it to the next resistance level of 20.43.
The white metal is showing convergence with its 20 Hr and 50 Hr moving averages.
