Silver Movement
On Friday, Silver prices declined 1.58% to the USD31.20 per ounce during the 24 hours ending 24:00GMT.
In the Asian session, at GMT0400, Silver is trading at 31.23, marginally higher from Friday’s close, as data from China, the world’s biggest consumer, added to signs that the rebound is gaining momentum and as Japan raised its economic outlook, boosting demand for industrial metals.
Silver is expected to find support at 30.97, and a fall through could take it to the next support level of 30.71. Silver is expected to find its first resistance at 31.63, and a rise through could take it to the next resistance level of 32.04.
The white metal is trading below its 20 Hr and 50 Hr moving averages.
