Silver prices rose 1.5% during Thursday trading, heading for a second consecutive session of gains, trading near $85 per ounce.

Scenario 1:

Silver is currently trading beneath the daily pivot point at $85.53, if it settles below, it may retest the first support level at $80.31. It should be noted that if the price remains below this level, it could come under downward pressure and extend its decline towards the second support level of $77.83.

Scenario 2:

If silver prices rise above the daily pivot point at $85.53, it is likely to continue its main upward trend, heading towards resistance levels of $87.92 then $90.00.

Top News:

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