Silver prices declined 2.98% to USD 46.21 per ounce during the 24 hours ending 23:00GMT.
In the Asian session at 3:00GMT, silver is trading at USD 45.33 per ounce, 1.90% lower, from 23:00GMT.
The first level of short term resistance on the upside is at 48.34, followed by 51.36. The pair is expected to find support at 43.77, with the subsequent support level at 42.22.
The pair is trading below its 20 Hr and 50 Hr moving averages.