Silver prices rose 1.01% to USD 19.92 per ounce during the 24 hours ending 23:00GMT, as Fed’s provided a tepid economic outlook for the US, which fuelled the demand for safe-haven assets.
In the Asian session, at GMT0300, Silver is trading at 19.85, 0.33% lower from yesterday’s close.
Silver is expected to find support at 19.70, and a fall through could take it to the next support level of 19.54. Silver is expected to find its first resistance at 19.98, and a rise through could take it to the next resistance level of 20.10.
The white metal is trading just above its 20 Hr and 50 Hr moving averages.