Silver ended the day lower on profit booking after the price reached all time high of Rs 33390, taking cues from the yellow metal. Silver prices have followed alongside gold's rally, with the metal attracting investor attention as a cheaper alternative to gold. In addition to buying futures, many investors have also been turning to increasingly popular, physically backed exchange-traded funds for both metals. The Gold Silver ratio is completing its third consecutive down month in a move that started off 69.64. Silver opened at 33154. Rising to 33390, silver lost momentum with base metals and saw a low of 32851 as investors sold to take profits. Buying on the dip took the metal to its close at 32962. Now support for the silver is seen at 32745 and below could see a test of 32529. Resistance is now likely to be seen at 33284, a move above could see prices testing 33607.

Trading Ideas:

Silver trading range is 32529-33607.

Silver ended the day lower on profit booking taking cues from the yellow metal

Silver is having resistance at 33284 and support at 32745 level.

In spot silver looks to have a support at 21.52$ and resistance at 21.92$