Silver Movement
Silver prices slipped 2.75% to the USD28.63 per ounce during the 24 hours ending 23:00GMT, as demand for the industrial metal eroded after minutes of the Federal Reserve’s latest meeting showed debate about ending quantitative easing before hiring picks up in the US.
In the Asian session, at GMT0400, Silver is trading at 28.50, 0.45% lower from yesterday’s close.
Silver is expected to find support at 27.99, and a fall through could take it to the next support level of 27.49. Silver is expected to find its first resistance at 29.31, and a rise through could take it to the next resistance level of 30.12.
The white metal is trading below its 20 Hr and 50 Hr moving averages.
