Silver declined with gold prices. The stronger U.S. dollar weighed on the metals. Silver opened the day at 29850. Following gains in base metals and crude, Silver traded to its intraday high of 30163. Silver reversed direction on good fund selling, eventually reaching its intraday low of 29522. Quiet late session trading saw the metal close at 29708.Now support for the silver is seen at 29432 and below could see a test of 29157. Resistance is now likely to be seen at 30073, a move above could see prices testing 30439.

Trading Ideas:

Silver trading range is 29157-30439.

Silver declined with gold prices as strong dollar weighed on prices

Silver is taking resistance at 29840 and support is at 29560.

Holdings at ishares silver trust rose by 76.22 tonnes to 9191.37 tonnes

BUY SILVER JUL @ 29600-650 SL 29520 TGT 29720-29798-29865.MCX