Silver Movement
For the 24 hours to 23:00 GMT, Silver declined 1.78% against the USD and closed at USD16.29 per ounce, tracking loss in gold prices.
In the Asian session, at GMT0300, the pair is trading at 16.20, with silver trading 0.55% lower against the USD from yesterday’s close.
The pair is expected to find support at 16.04, and a fall through could take it to the next support level of 15.88. The pair is expected to find its first resistance at 16.45, and a rise through could take it to the next resistance level of 16.70.
The white metal is trading below its 20 Hr and 50 Hr moving averages.
