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Silver prices actually rose again late last Friday, finishing at 0.72% to USD 39.02 per ounce. However, silver cooled back down some today, as the first level of short-term resistance on the upside is at 39.41, followed by 39.88. The pair is expected to find support at 38.28, with the subsequent support level at 37.62.
The white metal is showing convergence with its 20 Hr and its 50 Hr moving averages. Not to worry, silver prices always fluctuate wildly and are still predicted to reach amazing levels by March of 2012.
The overall price of silver has risen by right around 100% the last year, which is unheard of. The outlook for the future of the white metal looks very promising.
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