Silver yesterday ended higher tracking firm prices of gold and base metals. The gold/silver ratio retraced today to 66.55 from Friday’s close of 66.94. The ratio has been improving since July end but ran into mid July’s high of 67.18 today. Silver commenced the day at its intraday low of 29078 before climbing to a high 29449 as gold and copper expanded. Gradual liquidation by funds carried the metal to a close of 29378. Now support for the silver is seen at 29154 and below could see a test of 28931. Resistance is now likely to be seen at 29525, a move above could see prices testing 29673.

Trading Ideas:

Silver trading range is 28931-29673.

Silver yesterday ended higher tracking firm prices of gold and base metals

Silver is taking resistance at 29525 and support is at 29160.

In spot silver looks to take support at 17.88$ and resistance at 18.28$