For the 24 hours to 23:00 GMT, Silver declined 2.17% against the USD and closed at USD16.70 per ounce, tracking losses in gold prices.
In the Asian session, at GMT0300, the pair is trading at 16.73, with silver trading 0.21% higher against the USD from yesterday’s close.
The pair is expected to find support at 16.53, and a fall through could take it to the next support level of 16.33. The pair is expected to find its first resistance at 17.05, and a rise through could take it to the next resistance level of 17.38.
The white metal is trading below its 20 Hr and 50 Hr moving averages.
