Silver prices declined 2.44% to USD 32.75 per ounce during the 24 hours ending 23:00GMT.
In the Asian session at 4:00GMT, silver is trading at USD 32.17 per ounce, 1.77% lower, from 23:00GMT.
The first level of short term resistance on the upside is at 33.37, followed by 34.58. The pair is expected to find support at 31.33, with the subsequent support level at 30.50.
The currency pair is trading well below its 20Hr and 50Hr moving averages.