Silver Price Daily Forecast – Test Of Support At $23.80

Silver Price Daily Forecast – Test Of Support At $23.80

Silver is currently trying to settle below the support at $23.80 while the U.S. dollar is gaining some ground against a broad basket of currencies.

The U.S. Dollar Index has recently made an attempt to settle above the resistance at 93.10 but failed to develop sufficient upside momentum and pulled back. If the U.S. Dollar Index gets back above 93.10, it will move towards the resistance at 93.40 which will be bearish for silver and gold price today.

Gold declined below the psychologically important support level at $1800 and is trying to settle below the 20 EMA near $1790. In case gold manages to settle below this level, it will head towards the major support level at $1775 which will be bearish for silver.