Silver: White metal soars on Fed comments

Silver

Silver

Silver prices rose 5.96 % to USD 48.38 per ounce during the 24 hours ending 23:00GMT.

In the Asian session at 3:00GMT, silver is trading at USD 48.42 per ounce, 0.08% higher, from 23:00GMT.

The first level of short term resistance on the upside is at 49.84, followed by 51.26. The pair is expected to find support at 45.91, with the subsequent support level at 43.40.

The white metal is trading above its 20 Hr and 50 Hr moving averages.

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