Silver prices fell slightly by 1.5% during Thursday’s trading, erasing some of the previous session’s gains of 4.4%.

Scenario 1:

Silver is currently trading above the daily pivot point at $81.52, looking to hold above to retest the first resistance level at $86.46. It should be noted that stability above this level could help silver resume its upward trend, heading towards the second resistance level at $89.85.

Scenario 2:

If silver prices fall below the daily pivot point at $81.52, it may continue its downward correction, which could extend towards the support levels at $77.56 then $74.32.

Top News:

Markets are set to watch the U.S. jobless claims at 13:30 GMT, a key gauge of labor market health.