Silver Movement
On Friday, Silver prices declined 2.55% to USD20.92 per ounce during the period ending 21:00GMT, after an upbeat US jobs data weighed on the demand prospect of safe-haven assets. Meanwhile, a fall in the prices of industrial metals further pressurised the prices of the white metal.
In the Asian session, at GMT0400, Silver is trading at 20.76, 0.80% lower from Friday’s close.
Silver is expected to find support at 20.38, and a fall through could take it to the next support level of 20.01. Silver is expected to find its first resistance at 21.36, and a rise through could take it to the next resistance level of 21.97.
The white metal is trading below its 20 Hr and 50 Hr moving averages.
