Silver yesterday ended firm tracking firmness in gold prices. Still silver above 29000 level looks till 29080-29200 level. Silver commenced trading at 28977 and endured to a high of 29118, as gold flourished. Evoked by gold and base metals, the commodity later stumbled to a low of 28836, before taking solace in gold’s restoration to close the day at 29014.Now support for the silver is seen at 28861 and below could see a test of 28707. Resistance is now likely to be seen at 29143, a move above could see prices testing 29271.

Trading Ideas:

Silver trading range is 28707-29271.

Silver yesterday ended firm tracking firmness in gold prices

Silver is taking resistance at 29140 and support is at 28860.

Holdings at ishares silver trust fell by -30.45 tonnes to 9151.03 tonnes