Silver Movement
Silver prices declined 1.90% to USD38.23 per ounce, on Friday, during the 24 hours ending 23:00GMT.
In the Asian session at 3:00GMT, silver is trading at USD40.13 per ounce, 4.97% higher, from 23:00GMT, as the dollar slipped in response to a downgrade of the US credit rating by Standard & Poor’s.
The first level of short term resistance on the upside is at 41.17, followed by 42.21. The pair is expected to find support at 38.30, with the subsequent support level at 36.47.
The white metal is trading just above its 20 Hr and its 50 Hr moving averages.
