Silver also received a boost from soft durable goods orders reports at the start of the week. Durable goods orders plunged 2.0% in November, compared to a gain of 0.6% a month earlier. This was shy of the estimate of +0.2%. The core release, which excludes volatile items such as aircraft orders, slowed to 0.0%, down from 0.6% in October. This figure was well off the estimate of a 1.5% gain.
Silver Technical Analysis
Silver continues to gain ground this week, and the silver forecast indicates an upward trend for the metal. On Thursday, the metal tested the 18.00 line, which has psychological significance. Above, there is resistance at 18.60. On the downside, we find support at 17.50, followed closely by the 50-EMA line at 17.23.