Silver gained ground on bargain hunting amid positive sentiment for other metals with industrial uses, like copper and platinum. Funds want to buy the industrial metals as more participants come to believe the economic recovery will continue and there won't be a double-dip recession. Silver opened at 26491 and quickly retreated as the session began, touching an intraday low of 26330. Good buying helped the metal recover off its lows and it managed to climb back above 26600. Silver peaked at 26782 near the latter end of the day and finally settled just off its highs at 26741. Now support for the silver is seen at 26453 and below could see a test of 26166. Resistance is now likely to be seen at 26905, a move above could see prices testing 27070.

Trading Ideas:

Silver trading range is 26166-27070.

Silver gained ground on bargain hunting and tracking positive copper prices

Silver is taking support at 26610 and resistance at 26880 level.

Silver looks to take support at 17.06$ and resistance at 17.28$ in spot

BUY SILVER MAY @ 26600-650 SL 26490 TGT 26700-26780-26856-26922.MCX