Silver Movement
Silver prices declined 0.85% to the USD23.72 per ounce during the 24 hours ending 23:00GMT, as a decline in the prices of the industrial metals weighed on the demand outlook of silver. The white metal also came under pressure after the US mulled Russia’s proposal to allow Syrian regime to surrender its chemical weapons to international control.
In the Asian session, at GMT0300, Silver is trading at 23.29, 1.83% lower from yesterday’s close.
Silver is expected to find support at 23.10, and a fall through could take it to the next support level of 22.92. Silver is expected to find its first resistance at 23.66, and a rise through could take it to the next resistance level of 24.03.
The white metal is trading below its 20 Hr and 50 Hr moving averages.
