Silver Movement
Silver prices declined 4.60% to USD 39.24 per ounce during the 24 hours ending 23:00GMT, as speculators continued to leave long positions following hike in trading requirements by CME Group, the Comex operator, early this week.
In the Asian session at 3:00GMT, silver is trading at USD 39.07 per ounce, 0.43% lower, from 23:00GMT.
The first level of short term resistance on the upside is at 41.33, followed by 43.60. The pair is expected to find support at 37.80, with the subsequent support level at 36.54.
The pair is trading just below its 20 Hr and 50 Hr moving averages.
